Meeder Asset Management Inc. Buys 4,046 Shares of Popular, Inc. $BPOP

Meeder Asset Management Inc. boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,818 shares of the bank’s stock after acquiring an additional 4,046 shares during the period. Meeder Asset Management Inc.’s holdings in Popular were worth $13,313,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of research analyst reports. Truist Financial began coverage on Popular in a report on Thursday, October 9th. They set a “buy” rating and a $153.00 price target for the company. Citigroup boosted their target price on Popular from $142.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Weiss Ratings restated a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, UBS Group restated a “neutral” rating on shares of Popular in a research report on Tuesday, January 6th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Popular currently has an average rating of “Moderate Buy” and a consensus target price of $133.78.

Insider Activity

In other Popular news, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 193,020 shares in the company, valued at approximately $21,907,770. The trade was a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $114.84, for a total value 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. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is currently owned by insiders.

Popular Price Performance

Popular stock opened at $127.83 on Monday. The business has a 50 day moving average of $119.48 and a 200-day moving average of $119.18. The company has a market capitalization of $8.52 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 0.63. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $131.10.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, October 23rd. The bank reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $803.95 million. During the same period in the previous year, the firm posted $2.16 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a dividend of $0.75 per share. 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 dividend payout ratio (DPR) 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.