Allianz Asset Management GmbH Sells 5,818 Shares of Popular, Inc. $BPOP

Allianz Asset Management GmbH decreased its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 68,627 shares of the bank’s stock after selling 5,818 shares during the quarter. Allianz Asset Management GmbH’s holdings in Popular were worth $7,563,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BPOP. Steph & Co. acquired a new position in Popular in the 2nd quarter valued at about $39,000. Farther Finance Advisors LLC grew its stake in Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after buying an additional 221 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Popular in the 1st quarter valued at about $47,000. IFP Advisors Inc grew its stake in Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after buying an additional 471 shares during the last quarter. Finally, Quarry LP acquired a new position in Popular in the 1st quarter valued at about $84,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total transaction of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. This represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.23% of the company’s stock.

Popular Trading Down 0.7%

Shares of Popular stock opened at $117.63 on Wednesday. The company has a 50 day moving average of $123.46 and a 200-day moving average of $110.78. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32. The company has a market cap of $7.95 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.51 and a beta of 0.68.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The company had revenue of $800.03 million during the quarter, compared to the consensus estimate of $777.38 million. During the same quarter in the prior year, the firm posted $2.46 EPS. Research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently declared a sep 25 dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.1328 per share. Popular’s dividend payout ratio (DPR) is presently 29.07%.

Analysts Set New Price Targets

A number of research analysts recently commented on BPOP shares. Truist Financial started coverage on shares of Popular in a research note on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Citigroup boosted their price objective on shares of Popular from $133.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Barclays reissued an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.67.

Popular 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.