Popular, Inc. $BPOP Position Trimmed by Rhino Investment Partners Inc

Rhino Investment Partners Inc decreased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 3.9% in the first quarter, Holdings Channel.com reports. The firm owned 267,702 shares of the bank’s stock after selling 10,729 shares during the period. Popular comprises 6.1% of Rhino Investment Partners Inc’s portfolio, making the stock its 3rd largest holding. Rhino Investment Partners Inc’s holdings in Popular were worth $24,728,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its holdings in Popular by 4.2% in the first quarter. Venturi Wealth Management LLC now owns 2,847 shares of the bank’s stock valued at $263,000 after acquiring an additional 116 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Popular by 0.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,660 shares of the bank’s stock valued at $5,788,000 after purchasing an additional 185 shares during the period. GSA Capital Partners LLP increased its position in shares of Popular by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 5,875 shares of the bank’s stock valued at $543,000 after purchasing an additional 191 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Popular by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank’s stock worth $398,000 after purchasing an additional 195 shares during the period. Finally, Perkins Coie Trust Co lifted its stake in shares of Popular by 6.7% in the 1st quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank’s stock worth $296,000 after purchasing an additional 200 shares during the period. 87.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Popular from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen lowered Popular from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Popular in a report on Thursday, July 24th. Piper Sandler lifted their target price on Popular from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Finally, Barclays upped their price target on Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.88.

Popular Stock Performance

Shares of Popular stock opened at $119.34 on Thursday. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $120.17. The company has a market capitalization of $8.06 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.62 and a beta of 0.65. The company has a fifty day moving average of $112.84 and a 200 day moving average of $102.17.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. The business had revenue of $800.03 million for the quarter, compared to analysts’ expectations of $777.38 million. Popular had a return on equity of 12.48% and a net margin of 16.49%.During the same period last year, the firm earned $2.46 earnings per share. Analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Insider Buying and Selling

In related news, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the transaction, the executive vice president directly owned 27,382 shares of the company’s stock, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.09% of the company’s stock.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.