Popular, Inc. $BPOP Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 363.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 228,028 shares of the bank’s stock after purchasing an additional 178,820 shares during the quarter. SG Americas Securities LLC owned 0.33% of Popular worth $25,131,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Popular by 10.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank’s stock valued at $8,046,000 after buying an additional 8,262 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Popular by 164.7% in the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank’s stock valued at $1,453,000 after acquiring an additional 9,788 shares in the last quarter. Xponance Inc. increased its stake in shares of Popular by 17.1% during the first quarter. Xponance Inc. now owns 4,395 shares of the bank’s stock valued at $406,000 after acquiring an additional 641 shares during the period. CWM LLC raised its holdings in Popular by 213.9% during the first quarter. CWM LLC now owns 15,656 shares of the bank’s stock worth $1,446,000 after purchasing an additional 10,668 shares in the last quarter. Finally, OneAscent Financial Services LLC acquired a new stake in Popular in the first quarter worth approximately $726,000. 87.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BPOP has been the topic of several research analyst reports. UBS Group lowered their price target on Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Barclays reaffirmed an “overweight” rating on shares of Popular in a report on Wednesday, October 8th. Hovde Group reissued an “outperform” rating on shares of Popular in a report on Friday, August 29th. Citigroup raised their price objective on shares of Popular from $133.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Popular from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $133.56.

Popular Trading Down 0.2%

Shares of BPOP opened at $115.44 on Friday. The business’s 50-day moving average price is $120.23 and its 200 day moving average price is $114.22. The stock has a market capitalization of $7.70 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.47 and a beta of 0.72. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $129.32.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, topping the consensus estimate of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.46%. The company had revenue of $720.83 million during the quarter, compared to analysts’ expectations of $803.95 million. During the same period last year, the company posted $2.16 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a sep 25 dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.1328 per share. Popular’s dividend payout ratio (DPR) is currently 26.55%.

Insider Activity

In other news, EVP Gilberto Monzon sold 18,001 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $124.47, for a total value of $2,240,584.47. Following the completion of the sale, the executive vice president owned 24,773 shares of the company’s stock, valued at $3,083,495.31. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is owned by insiders.

Popular Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.