Popular, Inc. $BPOP Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Popular, Inc. (NASDAQ:BPOP) by 287.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,993 shares of the bank’s stock after purchasing an additional 128,377 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $23,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new stake in Popular during the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Popular in the 4th quarter valued at about $28,000. Parallel Advisors LLC grew its stake in shares of Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Popular during the third quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Popular during the fourth quarter valued at about $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 0.2%

Shares of NASDAQ BPOP opened at $172.12 on Tuesday. The stock’s 50 day moving average price is $158.68 and its two-hundred day moving average price is $144.87. Popular, Inc. has a 52-week low of $108.74 and a 52-week high of $174.69. The stock has a market capitalization of $11.11 billion, a P/E ratio of 12.71, a PEG ratio of 0.93 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, April 23rd. The bank reported $3.78 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 company had revenue of $816.08 million during the quarter, compared to analyst estimates of $866.54 million. During the same quarter last year, the firm earned $2.56 EPS. On average, analysts anticipate that Popular, Inc. will post 15.05 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, May 29th. This represents a $3.00 annualized dividend and a yield of 1.7%. Popular’s payout ratio is presently 22.16%.

Insider Buying and Selling at Popular

In other Popular news, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $148.51, for a total transaction of $920,762.00. Following the sale, the executive vice president directly owned 11,255 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, 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 in the company, valued at approximately $595,425.60. The trade was a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,500 shares of company stock worth $4,415,870 over the last 90 days. Insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on BPOP shares. Weiss Ratings upgraded Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. Barclays lifted their price objective on Popular from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Citigroup increased their target price on Popular from $178.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Royal Bank Of Canada raised their price target on shares of Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, UBS Group lifted their price target on shares of Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $177.83.

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.