Popular, Inc. $BPOP Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Popular, Inc. (NASDAQ:BPOP) by 25.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 22,823 shares of the bank’s stock after buying an additional 4,640 shares during the period. Janney Montgomery Scott LLC’s holdings in Popular were worth $3,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Xponance LLC boosted its stake in Popular by 2.1% in the 4th quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after buying an additional 80 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Popular by 0.8% during the 4th quarter. Cetera Investment Advisers now owns 14,647 shares of the bank’s stock valued at $1,824,000 after acquiring an additional 111 shares during the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Popular by 1.3% during the 2nd quarter. Nebula Research & Development LLC now owns 9,579 shares of the bank’s stock worth $1,056,000 after acquiring an additional 119 shares during the period. Finally, Quarry LP lifted its holdings in shares of Popular by 24.8% during the 4th quarter. Quarry LP now owns 674 shares of the bank’s stock worth $84,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Trading Down 0.4%

BPOP stock opened at $167.96 on Wednesday. The stock’s 50 day simple moving average is $154.87 and its 200 day simple moving average is $142.04. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $170.01. The firm has a market cap of $10.84 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.84 and a beta of 0.61.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The business had revenue of $816.08 million for the quarter, compared to the consensus estimate of $866.54 million. During the same quarter last year, the business posted $2.56 EPS. On average, research analysts forecast that Popular, Inc. will post 15.13 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio is 22.16%.

Insider Buying and Selling at Popular

In other news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the completion of the sale, the executive vice president directly owned 11,255 shares of the company’s stock, valued at $1,671,480.05. This represents a 35.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alejandro M. Sanchez sold 300 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the transaction, the director owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. The trade was a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on Popular from $173.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price target on Popular from $155.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Citigroup upped their price target on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Wells Fargo & Company raised their price objective on Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Royal Bank Of Canada lifted their price objective on Popular from $141.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Popular has a consensus rating of “Buy” and an average target price of $173.18.

Popular 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.