Popular, Inc. $BPOP Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 7.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,368 shares of the bank’s stock after selling 12,007 shares during the quarter. Martingale Asset Management L P owned approximately 0.23% of Popular worth $19,733,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Savant Capital LLC increased its stake in Popular by 68.6% in the 3rd quarter. Savant Capital LLC now owns 17,309 shares of the bank’s stock valued at $2,198,000 after buying an additional 7,043 shares during the period. Ethic Inc. purchased a new stake in shares of Popular during the 3rd quarter worth approximately $653,000. Allianz Asset Management GmbH grew its holdings in Popular by 13.4% in the third quarter. Allianz Asset Management GmbH now owns 77,807 shares of the bank’s stock valued at $9,882,000 after purchasing an additional 9,180 shares during the last quarter. Fieldview Capital Management LLC increased its holdings in Popular by 67.5% during the 3rd quarter. Fieldview Capital Management LLC now owns 37,436 shares of the bank’s stock valued at $4,755,000 after acquiring an additional 15,081 shares in the last quarter. Finally, Brendel Financial Advisors LLC purchased a new position in shares of Popular during the 3rd quarter worth approximately $2,660,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Activity at Popular

In other news, Director Alejandro M. Sanchez sold 1,451 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $140.85, for a total transaction of $204,373.35. Following the transaction, the director owned 3,415 shares in the company, valued at $481,002.75. This represents a 29.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Ballester sold 2,360 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the transaction, the director owned 57,449 shares in the company, valued at approximately $7,611,992.50. This trade represents a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BPOP. Credit Suisse Group set a $156.00 price objective on shares of Popular in a research report on Tuesday, February 3rd. Bank of America raised shares of Popular from a “neutral” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Tuesday, February 3rd. Zacks Research upgraded Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Piper Sandler assumed coverage on Popular in a research report on Thursday, January 15th. They set an “overweight” rating and a $152.00 price target on the stock. Finally, Citigroup upped their target price on shares of Popular from $161.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Popular presently has an average rating of “Buy” and a consensus target price of $156.55.

Popular Stock Performance

Shares of BPOP stock opened at $130.87 on Friday. The business’s fifty day moving average is $134.80 and its 200-day moving average is $125.43. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $149.31. The stock has a market cap of $8.52 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.80 and a beta of 0.61.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.36. The business had revenue of $806.59 million during the quarter, compared to analyst estimates of $811.55 million. Popular had a return on equity of 13.70% and a net margin of 18.75%.During the same period last year, the company posted $2.51 EPS. Equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.3%. Popular’s dividend payout ratio (DPR) is presently 24.35%.

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.