2,264 Shares in Popular, Inc. (NASDAQ:BPOP) Bought by Baron Wealth Management LLC

Baron Wealth Management LLC purchased a new position in Popular, Inc. (NASDAQ:BPOP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,264 shares of the bank’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BPOP. Harbor Capital Advisors Inc. grew its holdings in shares of Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after buying an additional 23,436 shares in the last quarter. Algert Global LLC grew its holdings in shares of Popular by 10.4% during the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after buying an additional 8,317 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Popular by 70.7% during the second quarter. TCW Group Inc. now owns 82,321 shares of the bank’s stock worth $7,280,000 after buying an additional 34,107 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Popular in the first quarter valued at about $1,104,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Popular in the second quarter valued at about $2,283,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Popular Trading Down 0.2 %

Shares of BPOP opened at $95.85 on Tuesday. The company’s 50 day simple moving average is $96.52 and its 200-day simple moving average is $94.10. Popular, Inc. has a 12-month low of $71.08 and a 12-month high of $105.01. The firm has a market cap of $6.83 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.75 and a beta of 0.79.

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

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is 33.70%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays decreased their target price 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. Wells Fargo & Company decreased their target price on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a research report on Thursday, July 25th. Finally, Hovde Group upped their target price on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

Insider Buying and Selling at Popular

In other news, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. The trade was a 12.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

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.