Royal Bank of Canada Acquires 41,833 Shares of Popular, Inc. $BPOP

Royal Bank of Canada raised its holdings in Popular, Inc. (NASDAQ:BPOP) by 26.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,187 shares of the bank’s stock after buying an additional 41,833 shares during the quarter. Royal Bank of Canada owned 0.31% of Popular worth $26,859,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BPOP. Vanguard Group Inc. lifted its position in shares of Popular by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank’s stock valued at $1,057,167,000 after acquiring an additional 37,424 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Popular by 1.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank’s stock worth $543,117,000 after purchasing an additional 58,452 shares during the period. AQR Capital Management LLC increased its stake in Popular by 56.2% in the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after purchasing an additional 1,065,452 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Popular by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock valued at $175,057,000 after purchasing an additional 64,778 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Popular by 9.3% during the fourth quarter. LSV Asset Management now owns 1,043,733 shares of the bank’s stock valued at $129,966,000 after purchasing an additional 88,765 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other Popular news, Director Alejandro M. Sanchez sold 300 shares of Popular stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the transaction, the director directly owned 3,960 shares of the company’s stock, valued at $595,425.60. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria Luisa Ferre sold 3,385 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $175.42, for a total transaction of $593,796.70. Following the completion of the sale, the director owned 10,156 shares of the company’s stock, valued at approximately $1,781,565.52. This represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,761 shares of company stock valued at $1,173,483 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.

Popular Price Performance

BPOP opened at $175.79 on Wednesday. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.00. The firm has a market capitalization of $11.35 billion, a PE ratio of 11.88, a P/E/G ratio of 0.67 and a beta of 0.61. The company’s 50-day moving average is $164.37 and its 200 day moving average is $148.46.

Popular (NASDAQ:BPOP) last released its quarterly 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. The business had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same quarter in the previous year, the business earned $3.09 EPS. As a group, analysts expect that Popular, Inc. will post 15.72 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, May 29th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. Popular’s payout ratio is presently 20.27%.

Analyst Ratings Changes

Several brokerages have recently commented on BPOP. Barclays raised their target price on Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings reissued a “buy (a-)” rating on shares of Popular in a research note on Friday. Royal Bank Of Canada boosted their price objective on Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Truist Financial increased their target price on Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Popular presently has a consensus rating of “Buy” and an average target price of $185.25.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.