LSV Asset Management Boosts Position in Popular, Inc. $BPOP

LSV Asset Management boosted its holdings in Popular, Inc. (NASDAQ:BPOP) by 34.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 954,968 shares of the bank’s stock after purchasing an additional 244,108 shares during the quarter. LSV Asset Management owned about 1.41% of Popular worth $121,290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position 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 worth $8,715,000 after buying an additional 17,729 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Popular in the 1st quarter valued at $257,000. Goldman Sachs Group Inc. raised its stake in Popular by 60.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank’s stock worth $20,647,000 after acquiring an additional 84,327 shares in the last quarter. Focus Partners Wealth purchased a new stake in Popular in the first quarter valued at $207,000. Finally, Sivia Capital Partners LLC purchased a new stake in Popular in the second quarter valued at $252,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Down 2.7%

BPOP opened at $141.97 on Friday. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $149.31. The business has a 50 day moving average price of $128.74 and a two-hundred day moving average price of $122.43. The company has a market cap of $9.47 billion, a PE ratio of 11.52, a P/E/G ratio of 0.90 and a beta of 0.63.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The company had revenue of $815.98 million for the quarter, compared to the consensus estimate of $811.55 million. During the same period last year, the business posted $2.51 EPS. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the transaction, 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. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $21,907,770. The trade was a 11.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,360 shares of company stock worth $3,265,040 in the last three months. Insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BPOP shares. Bank of America raised Popular from a “neutral” rating to a “buy” rating and set a $156.00 price objective on the stock in a report on Tuesday, February 3rd. Truist Financial upped their target price on Popular from $153.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Zacks Research raised Popular from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Barclays boosted their price objective on Popular from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Credit Suisse Group set a $156.00 price objective on Popular in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Popular currently has an average rating of “Buy” and an average price target of $155.73.

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.