Ritholtz Wealth Management Has $3.23 Million Stock Position in Popular, Inc. $BPOP

Ritholtz Wealth Management grew its stake in Popular, Inc. (NASDAQ:BPOP) by 41.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,313 shares of the bank’s stock after purchasing an additional 8,588 shares during the period. Ritholtz Wealth Management’s holdings in Popular were worth $3,231,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on BPOP shares. Barclays reissued an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Truist Financial assumed coverage on shares of Popular in a research note on Thursday, October 9th. They set a “buy” rating and a $153.00 price target on the stock. Zacks Research lowered shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Hovde Group reiterated an “outperform” rating on shares of Popular in a research report on Friday, August 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.67.

Popular Stock Down 3.3%

NASDAQ:BPOP opened at $119.99 on Thursday. The firm has a market cap of $8.11 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.54 and a beta of 0.68. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $129.32. The company’s 50-day moving average price is $123.37 and its two-hundred day moving average price is $109.86.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, topping the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million for the quarter, compared to the consensus estimate of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period in the previous year, the business earned $2.46 EPS. On average, research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.1328 dividend. Popular’s dividend payout ratio is currently 29.07%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the transaction, the executive vice president owned 24,773 shares of the company’s stock, valued at approximately $3,083,495.31. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

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.