Arcus Capital Partners LLC Buys Shares of 2,000 Popular, Inc. $BPOP

Arcus Capital Partners LLC bought a new stake in Popular, Inc. (NASDAQ:BPOP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,000 shares of the bank’s stock, valued at approximately $220,000.

Several other institutional investors have also recently bought and sold shares of BPOP. Wealth Enhancement Advisory Services LLC lifted its stake in Popular by 105.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank’s stock valued at $1,132,000 after acquiring an additional 6,281 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Popular by 50.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank’s stock valued at $1,335,000 after acquiring an additional 4,818 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Popular by 4.7% during 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 in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Popular by 2.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,401 shares of the bank’s stock worth $2,901,000 after purchasing an additional 692 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Popular during the 1st quarter worth approximately $444,000. Institutional investors own 87.27% of the company’s stock.

Popular Trading Up 2.1%

BPOP stock opened at $115.79 on Friday. The firm has a market capitalization of $7.83 billion, a PE ratio of 11.22, a PEG ratio of 0.50 and a beta of 0.68. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32. The business’s 50 day simple moving average is $123.38 and its 200 day simple moving average is $110.30.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million for the quarter, compared to analyst estimates of $777.38 million. During the same period in the prior year, the firm posted $2.46 EPS. As a group, sell-side analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.1328 dividend. Popular’s dividend payout ratio is 29.07%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 18,001 shares of the company’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 transaction, the executive vice president directly owned 24,773 shares of the company’s stock, valued at $3,083,495.31. This represents a 42.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial assumed coverage on Popular in a research note on Thursday, October 9th. They set a “buy” rating and a $153.00 price objective on the stock. Zacks Research cut Popular from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Wells Fargo & Company upped their price objective on Popular from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Popular from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Popular has a consensus rating of “Moderate Buy” and an average price target of $132.67.

Popular Profile

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.