25,435 Shares of Popular, Inc. $BPOP Purchased by Monument Capital Management

Monument Capital Management purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,435 shares of the bank’s stock, valued at approximately $3,954,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Popular in the second quarter valued at about $54,916,000. Panagora Asset Management Inc. raised its stake in shares of Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock valued at $84,709,000 after acquiring an additional 312,984 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Popular by 100.9% in the 1st quarter. Quantinno Capital Management LP now owns 272,800 shares of the bank’s stock worth $36,602,000 after acquiring an additional 136,984 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Popular by 287.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 172,993 shares of the bank’s stock worth $23,603,000 after purchasing an additional 128,377 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Popular by 24.9% during the 1st quarter. Sei Investments Co. now owns 556,630 shares of the bank’s stock worth $74,684,000 after purchasing an additional 110,887 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BPOP. Piper Sandler reissued an “overweight” rating and issued a $198.00 target price (up from $190.00) on shares of Popular in a research report on Friday, July 24th. Benchmark boosted their target price on Popular from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Truist Financial boosted their target price on shares of Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Popular in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $187.42.

Insider Buying and Selling at Popular

In other Popular news, VP Adorno Rodriguez sold 600 shares of Popular stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $168.79, for a total value of $101,274.00. Following the completion of the sale, the vice president directly owned 2,492 shares of the company’s stock, valued at approximately $420,624.68. The trade was a 19.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Luis E. Cestero sold 8,500 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total value of $1,499,060.00. Following the completion of the transaction, the executive vice president owned 16,013 shares of the company’s stock, valued at $2,824,052.68. This trade represents a 34.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 53,561 shares of company stock valued at $9,392,259. Corporate insiders own 2.13% of the company’s stock.

Popular Trading Up 0.2%

NASDAQ:BPOP opened at $155.79 on Friday. The company has a market capitalization of $9.94 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63. The firm has a 50-day moving average price of $167.00 and a two-hundred day moving average price of $158.67. Popular, Inc. has a twelve month low of $108.74 and a twelve month high of $179.24.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The firm had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the company earned $3.09 EPS. On average, equities research analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $3.60 annualized dividend and a dividend yield of 2.3%. This is an increase from Popular’s previous quarterly dividend of $0.75. Popular’s dividend payout ratio is 24.32%.

Popular Company Profile

Popular, Inc (NASDAQ:BPOP) is a financial services company headquartered in San Juan, Puerto Rico. Founded in 1893, the company provides banking and related financial services primarily through Banco Popular de Puerto Rico, its principal subsidiary, and serves individuals, businesses and institutions.

Its products and services include consumer and commercial deposit accounts, personal and business loans, residential mortgages, credit cards, auto financing, investment and wealth-management services, insurance-related offerings and electronic banking solutions.