Net Worth Advisory Group Takes Position in Popular, Inc. (NASDAQ:BPOP)

Net Worth Advisory Group acquired a new position in Popular, Inc. (NASDAQ:BPOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,342 shares of the bank’s stock, valued at approximately $314,000.

A number of other large investors have also recently bought and sold shares of BPOP. CIBC Asset Management Inc lifted its position in shares of Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock worth $211,000 after buying an additional 112 shares during the last quarter. Assetmark Inc. raised its stake in shares of Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock valued at $376,000 after acquiring an additional 143 shares in the last quarter. Arizona State Retirement System boosted its position in Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock worth $1,971,000 after purchasing an additional 143 shares during the period. Pathstone Holdings LLC grew its holdings in Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock valued at $1,974,000 after purchasing an additional 148 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Popular by 0.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock valued at $2,888,000 after purchasing an additional 214 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Performance

Shares of Popular stock opened at $87.42 on Wednesday. Popular, Inc. has a twelve month low of $80.60 and a twelve month high of $106.81. The firm has a market cap of $6.23 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The firm’s 50-day simple moving average is $99.17 and its 200-day simple moving average is $97.74.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. Popular’s payout ratio is presently 32.71%.

Insider Activity

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. UBS Group initiated coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective on the stock. Wells Fargo & Company upped their price target on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average target price of $112.25.

About Popular

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.