Popular, Inc. (NASDAQ:BPOP) Stake Lessened by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,330 shares of the bank’s stock after selling 2,048 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Popular were worth $11,083,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Popular by 2.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 77,291 shares of the bank’s stock valued at $6,835,000 after purchasing an additional 2,159 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Popular by 35.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 30,634 shares of the bank’s stock valued at $2,709,000 after buying an additional 8,012 shares in the last quarter. Federated Hermes Inc. grew its holdings in Popular by 1.0% during the second quarter. Federated Hermes Inc. now owns 233,353 shares of the bank’s stock worth $20,635,000 after acquiring an additional 2,250 shares during the period. Meeder Asset Management Inc. bought a new stake in Popular during the second quarter worth approximately $48,000. Finally, Vest Financial LLC grew its position in Popular by 26.9% in the second quarter. Vest Financial LLC now owns 12,903 shares of the bank’s stock worth $1,141,000 after buying an additional 2,739 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BPOP. Piper Sandler assumed 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. Royal Bank of Canada increased their price target on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays boosted their price objective on shares of Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated 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 lifted their target price on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction that occurred 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 directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

Shares of BPOP opened at $97.57 on Monday. The firm has a market cap of $7.05 billion, a PE ratio of 14.48, a PEG ratio of 0.65 and a beta of 0.78. Popular, Inc. has a twelve month low of $59.27 and a twelve month high of $105.01. The firm’s 50 day moving average price is $97.82 and its 200 day moving average price is $90.41.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same quarter last year, the firm earned $2.10 EPS. On average, sell-side analysts anticipate that Popular, Inc. will post 8.86 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.54%. Popular’s dividend payout ratio (DPR) is presently 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.