Popular, Inc. (NASDAQ:BPOP) Holdings Raised by nVerses Capital LLC

nVerses Capital LLC grew its position in Popular, Inc. (NASDAQ:BPOP) by 34.3% in the third quarter, Holdings Channel.com reports. The fund owned 4,700 shares of the bank’s stock after buying an additional 1,200 shares during the period. nVerses Capital LLC’s holdings in Popular were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Popular by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after acquiring an additional 113,838 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Popular by 57.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock valued at $88,859,000 after acquiring an additional 366,870 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Popular by 23.6% in the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock valued at $75,129,000 after acquiring an additional 164,270 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Popular by 52.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock valued at $73,867,000 after acquiring an additional 286,450 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Popular by 2.1% in the 1st quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock valued at $62,889,000 after acquiring an additional 14,810 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares in the company, valued at $2,920,387.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

BPOP has been the subject of a number of recent research reports. Hovde Group upped their price objective on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price objective on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler initiated coverage on Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price objective (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Finally, Wells Fargo & Company downgraded Popular from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $115.00 to $105.00 in a research note on Tuesday, October 1st. Three equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

Popular Stock Performance

NASDAQ:BPOP opened at $102.56 on Friday. Popular, Inc. has a 1 year low of $59.27 and a 1 year high of $105.01. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.66 and a beta of 0.78. The business has a fifty day moving average of $98.58 and a 200-day moving average of $92.70.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same quarter in the prior year, the firm posted $2.10 earnings per share. On average, equities research analysts predict that Popular, Inc. will post 8.74 EPS for the current year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.42%. Popular’s dividend payout ratio (DPR) is 36.80%.

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.