Oak Thistle LLC Makes New $602,000 Investment in Popular, Inc. $BPOP

Oak Thistle LLC bought a new position in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,739 shares of the bank’s stock, valued at approximately $602,000.

Other large investors have also made changes to their positions in the company. Steph & Co. acquired a new position in Popular in the 2nd quarter worth approximately $39,000. Allworth Financial LP lifted its holdings in shares of Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after buying an additional 221 shares during the period. IFP Advisors Inc grew its holdings in shares of Popular by 3,925.0% during the second quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after buying an additional 471 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Popular during the first quarter valued at $47,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group decreased their price objective on Popular from $135.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Barclays reissued an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Finally, Hovde Group reaffirmed an “outperform” rating on shares of Popular in a research note on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Popular presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Buying and Selling

In other Popular news, Director Richard L. Carrion sold 25,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was 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 $21,907,770. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction that occurred 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 transaction, the vice president directly owned 2,604 shares in the company, valued at approximately $299,043.36. This represents a 27.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is currently owned by company insiders.

Popular Trading Up 0.1%

Popular stock opened at $124.95 on Friday. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32. The firm’s fifty day simple moving average is $116.05 and its 200-day simple moving average is $116.74. The company has a market capitalization of $8.33 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.55 and a beta of 0.67.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, topping the consensus estimate of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.27%. The firm had revenue of $720.83 million for the quarter, compared to the consensus estimate of $803.95 million. During the same period in the prior year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.4%. Popular’s dividend payout ratio is currently 26.55%.

Popular 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.