Popular, Inc. $BPOP Stake Lifted by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 43.3% during the first quarter, Holdings Channel.com reports. The fund owned 21,051 shares of the bank’s stock after purchasing an additional 6,359 shares during the period. Lazard Asset Management LLC’s holdings in Popular were worth $2,824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new stake in Popular in the fourth quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Popular during the 4th quarter valued at $28,000. Parallel Advisors LLC raised its stake in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Popular in the 3rd quarter worth $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Popular in the fourth quarter valued at $50,000. Institutional investors own 87.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on BPOP shares. Zacks Research cut Popular from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. UBS Group boosted their price target on shares of Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings raised shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods raised their price objective on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Truist Financial lifted their price objective on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $184.42.

Popular Stock Performance

BPOP stock opened at $175.21 on Friday. The stock has a market cap of $11.31 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.67 and a beta of 0.61. The firm has a 50 day simple moving average of $163.43 and a 200 day simple moving average of $147.61. Popular, Inc. has a 52 week low of $108.74 and a 52 week high of $176.59.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.47%. The firm had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the business earned $3.09 EPS. Sell-side analysts predict that Popular, Inc. will post 15.72 EPS for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular’s payout ratio is currently 20.27%.

Insider Buying and Selling at Popular

In related news, Director Maria Luisa Ferre sold 3,385 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $175.42, for a total transaction of $593,796.70. Following the completion of the sale, the director directly owned 10,156 shares in the company, valued at approximately $1,781,565.52. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of Popular stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the sale, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. The trade was a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,761 shares of company stock worth $1,173,483. 2.13% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Popular

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Strong momentum and earnings performance support the stock. Zacks identifies BPOP as a top-ranked momentum stock, while Popular’s latest quarterly results included adjusted earnings of $4.35 per share—well above the $3.72 analyst consensus and up from $3.09 a year earlier. Popular is a Top-Ranked Momentum Stock
• Positive Sentiment: BPOP’s valuation remains potentially attractive relative to its growth. The stock’s reported price-to-earnings ratio is approximately 11.8, and its price-to-earnings-growth ratio is below 1, metrics that may appeal to investors seeking earnings growth at a reasonable price. Popular Soars to 52-Week High
• Neutral Sentiment: The 52-week high creates a near-term valuation and profit-taking consideration. Zacks questions whether investors should “cash out” after the recent rally, suggesting that expectations for further gains may already be reflected in the share price. Investors will likely focus on whether Popular can sustain earnings growth and improve revenue, which came in below estimates in the latest quarter.

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.