Popular, Inc. $BPOP Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 40.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 41,270 shares of the bank’s stock after acquiring an additional 11,957 shares during the period. Ritholtz Wealth Management owned about 0.06% of Popular worth $5,242,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Popular by 32.4% during the second quarter. AQR Capital Management LLC now owns 1,897,419 shares of the bank’s stock valued at $209,115,000 after purchasing an additional 464,820 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Popular by 0.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,496,309 shares of the bank’s stock worth $164,908,000 after buying an additional 11,168 shares during the period. Geode Capital Management LLC raised its holdings in Popular by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,337,901 shares of the bank’s stock worth $147,471,000 after buying an additional 7,500 shares during the period. Frontier Capital Management Co. LLC lifted its stake in Popular by 14.0% during the second quarter. Frontier Capital Management Co. LLC now owns 1,082,018 shares of the bank’s stock valued at $119,249,000 after buying an additional 132,826 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Popular in the second quarter worth about $93,578,000. 87.27% of the stock is owned by institutional investors.

Popular Price Performance

Shares of BPOP stock opened at $128.84 on Friday. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $131.10. The stock’s 50-day moving average is $120.59 and its two-hundred day moving average is $119.50. The firm has a market cap of $8.59 billion, a P/E ratio of 11.40, a PEG ratio of 0.53 and a beta of 0.63.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a return on equity of 13.27% and a net margin of 17.63%.The business had revenue of $720.83 million during the quarter, compared to analysts’ expectations of $803.95 million. During the same quarter in the previous year, the business posted $2.16 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 5th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, December 5th. Popular’s payout ratio is currently 26.55%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BPOP. Truist Financial assumed coverage on shares of Popular in a report on Thursday, October 9th. They set a “buy” rating and a $153.00 price target on the stock. Citigroup increased their target price on Popular from $142.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Barclays reaffirmed an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Piper Sandler assumed coverage on Popular in a research report on Thursday. They set an “overweight” rating and a $152.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Popular has a consensus rating of “Moderate Buy” and an average target price of $137.00.

Insider Buying and Selling at Popular

In other news, Director Richard L. Carrion sold 25,000 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the transaction, the director owned 193,020 shares in the company, valued at approximately $21,907,770. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction on Friday, November 21st. The shares were sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the sale, the vice president directly owned 2,604 shares of the company’s stock, valued at approximately $299,043.36. The trade was a 27.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.09% of the company’s stock.

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.