Caitong International Asset Management Co. Ltd Sells 99 Shares of Popular, Inc. $BPOP

Caitong International Asset Management Co. Ltd lessened its stake in Popular, Inc. (NASDAQ:BPOP) by 28.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 253 shares of the bank’s stock after selling 99 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Popular were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BPOP. Steph & Co. bought a new stake in shares of Popular in the 2nd quarter worth approximately $39,000. Farther Finance Advisors LLC raised its holdings in shares of Popular by 112.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after purchasing an additional 221 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Popular in the 1st quarter worth approximately $47,000. IFP Advisors Inc raised its holdings in shares of Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares during the period. Finally, Quarry LP bought a new stake in Popular during the 1st quarter valued at $84,000. Institutional investors own 87.27% of the company’s stock.

Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 18,001 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the transaction, the executive vice president directly owned 24,773 shares in the company, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BPOP shares. Barclays reissued an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a report on Friday. Royal Bank Of Canada reissued an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Truist Financial started coverage on shares of Popular in a report on Thursday, October 9th. They set a “buy” rating and a $153.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.56.

Popular Price Performance

BPOP opened at $113.80 on Monday. The company has a fifty day moving average price of $123.21 and a 200-day moving average price of $111.63. The firm has a market capitalization of $7.69 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.49 and a beta of 0.68. Popular, Inc. has a one year low of $78.23 and a one year high of $129.32.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. The firm had revenue of $817.70 million during the quarter, compared to analyst estimates of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. On average, analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.1328 dividend. Popular’s dividend payout ratio (DPR) is presently 26.55%.

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.