Popular, Inc. $BPOP Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Popular, Inc. (NASDAQ:BPOP) by 5.0% during the 1st quarter, HoldingsChannel reports. The fund owned 88,233 shares of the bank’s stock after selling 4,644 shares during the period. Rhumbline Advisers’ holdings in Popular were worth $8,150,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Popular in the first quarter valued at $1,915,000. Acadian Asset Management LLC raised its holdings in Popular by 216.0% in the first quarter. Acadian Asset Management LLC now owns 128,259 shares of the bank’s stock valued at $11,846,000 after acquiring an additional 87,669 shares in the last quarter. Focus Partners Wealth acquired a new stake in Popular in the first quarter valued at $207,000. Great Lakes Advisors LLC raised its holdings in Popular by 15.1% in the first quarter. Great Lakes Advisors LLC now owns 3,171 shares of the bank’s stock valued at $293,000 after acquiring an additional 415 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in Popular during the first quarter valued at approximately $763,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 0.1%

BPOP opened at $124.80 on Friday. The firm has a market cap of $8.43 billion, a PE ratio of 12.09, a P/E/G ratio of 0.65 and a beta of 0.68. The business has a fifty day simple moving average of $118.20 and a 200-day simple moving average of $104.55. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $128.66.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.49. The business had revenue of $800.03 million during the quarter, compared to analyst estimates 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 company posted $2.46 EPS. On average, equities research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.1328 dividend. Popular’s dividend payout ratio (DPR) is presently 27.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Hovde Group restated an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Zacks Research upgraded Popular from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 1st. Piper Sandler upped their target price on Popular from $110.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Barclays raised their price objective on Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Citigroup raised their price objective on Popular from $133.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Popular has a consensus rating of “Buy” and an average price target of $128.88.

Insider Activity at Popular

In other news, EVP Gilberto Monzon sold 18,001 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at $3,083,495.31. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by company insiders.

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.