Perpetual Ltd Reduces Holdings in Popular, Inc. (NASDAQ:BPOP)

Perpetual Ltd cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,887 shares of the bank’s stock after selling 13,650 shares during the quarter. Perpetual Ltd owned approximately 0.14% of Popular worth $9,915,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Popular during the 1st quarter valued at $42,000. Mather Group LLC. purchased a new stake in Popular during the 2nd quarter worth about $44,000. Meeder Asset Management Inc. purchased a new stake in Popular during the 2nd quarter worth about $48,000. GAMMA Investing LLC raised its stake in Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in Popular in the 4th quarter valued at about $139,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Popular

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the transaction, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.09% of the stock is owned by insiders.

Popular Trading Up 1.0 %

BPOP stock opened at $97.42 on Friday. The company has a market cap of $7.04 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. The stock has a 50-day moving average price of $97.89 and a two-hundred day moving average price of $92.21. Popular, Inc. has a 12-month low of $59.27 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same quarter in the prior year, the company earned $2.10 EPS. Equities analysts forecast that Popular, Inc. will post 8.86 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.55%. Popular’s dividend payout ratio (DPR) is 36.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BPOP. Wells Fargo & Company lowered shares of Popular from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $115.00 to $105.00 in a research report on Tuesday, October 1st. Barclays boosted their price target on Popular from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Piper Sandler began coverage on Popular in a report on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.