denkapparat Operations GmbH Invests $482,000 in Popular, Inc. $BPOP

denkapparat Operations GmbH purchased a new stake in Popular, Inc. (NASDAQ:BPOP) in the second quarter, according to its most recent filing with the SEC. The fund purchased 2,936 shares of the bank’s stock, valued at approximately $482,000.

Several other institutional investors and hedge funds have also made changes to their positions in BPOP. Acumen Wealth Advisors LLC bought a new stake in Popular during the fourth quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Popular in the 4th quarter worth about $28,000. Parallel Advisors LLC boosted its holdings in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares during the period. Advisory Services Network LLC acquired a new position in shares of Popular in the 3rd quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Popular during the 4th quarter valued at about $50,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BPOP. Piper Sandler reiterated an “overweight” rating and set a $198.00 price objective (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Keefe, Bruyette & Woods increased their price target on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Citigroup raised their price target on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Truist Financial boosted their price objective on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price objective on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Popular currently has an average rating of “Buy” and a consensus target price of $187.08.

Insiders Place Their Bets

In related news, EVP Lidio Soriano sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the sale, the executive vice president owned 107,320 shares in the company, valued at approximately $18,727,340. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Luis Cestero sold 8,500 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total value of $1,499,060.00. Following the completion of the sale, the executive vice president owned 16,013 shares of the company’s stock, valued at $2,824,052.68. The trade was a 34.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,561 shares of company stock worth $9,392,259 in the last quarter. Corporate insiders own 2.13% of the company’s stock.

Popular Price Performance

NASDAQ BPOP opened at $171.32 on Friday. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $179.24. The company’s 50 day simple moving average is $171.43 and its 200 day simple moving average is $154.35. The firm has a market capitalization of $10.93 billion, a PE ratio of 11.58, a P/E/G ratio of 0.66 and a beta of 0.60.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The business had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the firm posted $3.09 earnings per share. Sell-side analysts anticipate that Popular, Inc. will post 15.72 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, September 10th. This is a boost from Popular’s previous quarterly dividend of $0.75. Popular’s dividend payout ratio is presently 20.27%.

About Popular

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.