Perpetual Ltd Cuts Stock Position in Popular, Inc. $BPOP

Perpetual Ltd cut its position in shares of Popular, Inc. (NASDAQ:BPOP) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,408 shares of the bank’s stock after selling 4,300 shares during the quarter. Perpetual Ltd’s holdings in Popular were worth $10,340,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Steph & Co. purchased a new stake in Popular in the second quarter worth approximately $39,000. Allworth Financial LP raised its stake in shares of Popular by 2,158.8% during the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after acquiring an additional 367 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after acquiring an additional 221 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Popular in the 1st quarter valued at $47,000. Finally, IFP Advisors Inc grew its holdings in shares of Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BPOP. Hovde Group reissued an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Truist Financial initiated coverage on Popular in a report on Thursday, October 9th. They set a “buy” rating and a $153.00 target price for the company. Wells Fargo & Company decreased their price target on Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. UBS Group lowered their price objective on Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Barclays reissued an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and an average price target of $133.56.

Insider Activity

In other news, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the completion of the transaction, the director owned 193,020 shares of the company’s stock, valued at $21,907,770. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the transaction, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. The trade was a 27.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is owned by company insiders.

Popular Price Performance

BPOP stock opened at $124.95 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The firm has a 50-day moving average of $116.05 and a 200 day moving average of $116.82. The company has a market cap of $8.33 billion, a P/E ratio of 11.06, a PEG ratio of 0.55 and a beta of 0.67.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.27% and a net margin of 17.63%.The firm had revenue of $720.83 million during the quarter, compared to analyst estimates of $803.95 million. During the same quarter in the prior year, the company earned $2.16 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.4%. Popular’s dividend payout ratio is currently 26.55%.

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.