Arbejdsmarkedets Tillaegspension Cuts Holdings in Popular, Inc. $BPOP

Arbejdsmarkedets Tillaegspension reduced its holdings in Popular, Inc. (NASDAQ:BPOP) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,372 shares of the bank’s stock after selling 9,122 shares during the quarter. Arbejdsmarkedets Tillaegspension’s holdings in Popular were worth $25,542,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BPOP. Xponance LLC raised its position in Popular by 2.1% in the fourth quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after acquiring an additional 80 shares in the last quarter. Severin Investments LLC lifted its holdings in Popular by 1.9% in the first quarter. Severin Investments LLC now owns 4,799 shares of the bank’s stock valued at $644,000 after acquiring an additional 91 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Popular by 1.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank’s stock worth $764,000 after purchasing an additional 95 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Finally, Cetera Investment Advisers grew 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 worth $1,824,000 after purchasing an additional 111 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Price Performance

BPOP stock opened at $170.56 on Monday. The company’s 50 day simple moving average is $156.02 and its 200-day simple moving average is $142.96. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $171.73. The firm has a market capitalization of $11.01 billion, a PE ratio of 12.60, a P/E/G ratio of 0.92 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data 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 firm had revenue of $816.08 million during the quarter, compared to the consensus estimate of $866.54 million. During the same period in the previous year, the firm posted $2.56 EPS. As a group, sell-side analysts anticipate that Popular, Inc. will post 15 earnings per share for the current year.

Popular Dividend Announcement

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

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, April 24th. Barclays boosted their price objective on shares of Popular from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on shares of Popular from $155.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Royal Bank Of Canada lifted their price target on shares of Popular from $141.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company boosted their price target on Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $173.18.

Insider Transactions at Popular

In related news, Director Alejandro M. Sanchez sold 300 shares of Popular 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 sale, the director owned 3,960 shares in the company, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Ballester sold 23,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the completion of the transaction, the director directly owned 34,588 shares of the company’s stock, valued at $5,188,200. The trade was a 39.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,500 shares of company stock valued at $4,415,870 over the last three months. 2.13% of the stock is currently owned by insiders.

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.