Popular, Inc. $BPOP Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 18.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,724 shares of the bank’s stock after selling 67,592 shares during the quarter. Popular accounts for 4.5% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 5th largest position. Minneapolis Portfolio Management Group LLC owned about 0.45% of Popular worth $38,957,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BPOP. Royal Bank of Canada boosted its stake in shares of Popular by 23.1% during the 1st quarter. Royal Bank of Canada now owns 94,352 shares of the bank’s stock valued at $8,715,000 after buying an additional 17,729 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Popular during the 1st quarter valued at $257,000. Goldman Sachs Group Inc. lifted its stake in Popular by 60.6% during the first quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock valued at $20,647,000 after purchasing an additional 84,327 shares during the last quarter. Focus Partners Wealth acquired a new stake in Popular during the 1st quarter worth about $207,000. Finally, Pallas Capital Advisors LLC increased its holdings in shares of Popular by 8.9% in the 2nd quarter. Pallas Capital Advisors LLC now owns 5,848 shares of the bank’s stock valued at $645,000 after purchasing an additional 479 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Down 0.6%

Popular stock opened at $128.09 on Friday. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $131.10. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.54 and a beta of 0.63. The business has a 50-day simple moving average of $120.86 and a 200 day simple moving average of $119.63.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data 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 firm had revenue of $720.83 million for the quarter, compared to analyst estimates of $803.95 million. During the same period in the prior year, the company earned $2.16 EPS. The company’s revenue was down 1.3% on a year-over-year basis. On average, research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

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

Insider Activity at Popular

In other news, Director Richard L. Carrion sold 25,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the completion of the transaction, the director owned 193,020 shares in the company, valued at $21,907,770. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was 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 owned 2,604 shares in the company, valued at $299,043.36. This trade represents a 27.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BPOP shares. Barclays reaffirmed an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating on shares of Popular in a research report on Tuesday, January 6th. Piper Sandler started coverage on Popular in a research note on Thursday. They issued an “overweight” rating and a $152.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.00.

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.