Popular, Inc. (NASDAQ:BPOP) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC cut its position in shares of Popular, Inc. (NASDAQ:BPOP) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,146 shares of the bank’s stock after selling 872 shares during the quarter. Rock Point Advisors LLC’s holdings in Popular were worth $2,822,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PEAK6 Investments LLC acquired a new stake in Popular in the 1st quarter valued at $357,000. EMC Capital Management grew its holdings in Popular by 26.2% in the 1st quarter. EMC Capital Management now owns 5,519 shares of the bank’s stock valued at $486,000 after buying an additional 1,147 shares in the last quarter. Atria Investments Inc purchased a new position in Popular in the first quarter worth approximately $1,104,000. Boston Partners lifted its stake in Popular by 262.7% during the first quarter. Boston Partners now owns 103,293 shares of the bank’s stock worth $9,097,000 after purchasing an additional 74,818 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Activity at Popular

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Popular Stock Performance

NASDAQ BPOP traded down $0.68 during trading hours on Tuesday, reaching $101.12. The company’s stock had a trading volume of 6,393 shares, compared to its average volume of 427,034. The stock has a market cap of $7.21 billion, a PE ratio of 13.83, a PEG ratio of 0.77 and a beta of 0.79. The company’s 50-day moving average is $96.59 and its two-hundred day moving average is $94.46. Popular, Inc. has a fifty-two week low of $71.08 and a fifty-two week high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The business had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. During the same period last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $0.70 dividend. This is an increase from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, December 6th. Popular’s dividend payout ratio is currently 33.70%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada decreased their target price on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their price objective on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Popular has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

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.