Cwm LLC Boosts Stock Position in Popular, Inc. $BPOP

Cwm LLC grew its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 132.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,032 shares of the bank’s stock after buying an additional 37,060 shares during the quarter. Cwm LLC’s holdings in Popular were worth $8,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steph & Co. acquired a new stake in Popular in the second quarter valued at $39,000. Allworth Financial LP raised its stake in shares of Popular by 2,158.8% in the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 purchasing an additional 221 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Popular by 3,925.0% during the second quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares during the last quarter. Finally, Quarry LP acquired a new position in Popular in the first quarter worth about $84,000. Institutional investors own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Popular from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. UBS Group decreased their price objective on shares of Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Truist Financial began coverage on shares of Popular in a research report on Thursday, October 9th. They issued a “buy” rating and a $153.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

Insider Activity at Popular

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the transaction, the vice president directly owned 2,604 shares of the company’s stock, valued at $299,043.36. This represents a 27.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $113.50, for a total value of $2,837,500.00. Following the completion of the sale, the director owned 193,020 shares in the company, valued at approximately $21,907,770. This represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.23% of the company’s stock.

Popular Stock Performance

BPOP stock opened at $125.79 on Tuesday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $129.32. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.56 and a beta of 0.67. The stock’s fifty day moving average is $116.89 and its two-hundred day moving average is $117.77.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. The business had revenue of $720.83 million for the quarter, compared to analysts’ expectations of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.27%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. As a group, analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.4%. Popular’s payout ratio is currently 26.55%.

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.