Popular, Inc. $BPOP Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Popular, Inc. (NASDAQ:BPOP) by 1.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,004,676 shares of the bank’s stock after buying an additional 18,647 shares during the period. Wellington Management Group LLP’s holdings in Popular were worth $164,948,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BPOP. AQR Capital Management LLC lifted its holdings in Popular by 56.2% in the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after acquiring an additional 1,065,452 shares during the period. Norges Bank acquired a new position in shares of Popular during the 4th quarter worth $104,955,000. Bank of New York Mellon Corp acquired a new position in shares of Popular during the 2nd quarter worth $54,916,000. Panagora Asset Management Inc. increased its holdings in shares of Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock valued at $84,709,000 after purchasing an additional 312,984 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Popular by 2,752.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank’s stock valued at $39,684,000 after purchasing an additional 301,494 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Stock Performance

BPOP stock opened at $168.19 on Tuesday. The stock’s 50 day moving average price is $171.10 and its 200 day moving average price is $153.68. The firm has a market cap of $10.73 billion, a P/E ratio of 11.36, a PEG ratio of 0.65 and a beta of 0.61. Popular, Inc. has a 1 year low of $108.74 and a 1 year high of $179.24.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The company had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. During the same quarter last year, the business posted $3.09 earnings per share. On average, research analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, September 10th. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. This is a boost from Popular’s previous quarterly dividend of $0.75. Popular’s dividend payout ratio (DPR) is 20.27%.

Analyst Ratings Changes

Several analysts recently commented on BPOP shares. Benchmark raised their price objective on shares of Popular from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of Popular from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods increased their target price on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their price target on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Piper Sandler reissued an “overweight” rating and set a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $187.08.

Insider Transactions at Popular

In related news, Director Maria Luisa Ferre sold 3,385 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $175.42, for a total value of $593,796.70. Following the completion of the transaction, the director owned 10,156 shares of the company’s stock, valued at approximately $1,781,565.52. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Javier D. Ferrer sold 35,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the transaction, the chief executive officer owned 96,478 shares in the company, valued at approximately $16,925,135.54. This trade represents a 26.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,561 shares of company stock worth $9,392,259 in the last ninety days. Company insiders own 2.13% 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.