Rock Point Advisors LLC Has $2.47 Million Stake in Popular, Inc. $BPOP

Rock Point Advisors LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP) by 26.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,419 shares of the bank’s stock after selling 7,066 shares during the quarter. Rock Point Advisors LLC’s holdings in Popular were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada increased its stake in Popular by 23.1% in the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock valued at $8,715,000 after buying an additional 17,729 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Popular during the 1st quarter valued at $257,000. Goldman Sachs Group Inc. increased its stake in shares of Popular by 60.6% in the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock worth $20,647,000 after acquiring an additional 84,327 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Popular during the first quarter worth $207,000. Finally, Sivia Capital Partners LLC acquired a new stake in Popular during the second quarter valued at $252,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Popular

In other news, Director Alejandro M. Ballester sold 2,360 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $132.50, for a total value of $312,700.00. Following the sale, the director directly owned 57,449 shares of the company’s stock, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Sanchez sold 1,451 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $140.85, for a total value of $204,373.35. Following the transaction, the director directly owned 3,415 shares of the company’s stock, valued at $481,002.75. This represents a 29.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.23% of the stock is owned by corporate insiders.

Popular Stock Down 1.4%

Shares of Popular stock opened at $136.20 on Wednesday. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $149.31. The stock has a 50 day moving average price of $133.97 and a two-hundred day moving average price of $124.92. The stock has a market capitalization of $9.08 billion, a P/E ratio of 11.06, a PEG ratio of 0.86 and a beta of 0.61.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.36. The company had revenue of $806.59 million for the quarter, compared to analyst estimates of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.87%. During the same quarter last year, the firm posted $2.51 earnings per share. Sell-side analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.2%. Popular’s payout ratio is currently 24.35%.

Analyst Ratings Changes

BPOP has been the topic of several research reports. UBS Group reaffirmed a “neutral” rating and issued a $142.00 target price on shares of Popular in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a report on Wednesday, January 21st. Piper Sandler assumed coverage on shares of Popular in a research note on Thursday, January 15th. They issued an “overweight” rating and a $152.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, Credit Suisse Group set a $156.00 price target on shares of Popular in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $156.55.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.