Popular, Inc. (NASDAQ:BPOP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 30,495 shares of the bank’s stock after selling 139 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Popular were worth $3,058,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Popular by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after purchasing an additional 113,838 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Popular by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after purchasing an additional 71,782 shares in the last quarter. AQR Capital Management LLC grew its holdings in Popular by 23.6% during the 2nd quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock valued at $75,129,000 after purchasing an additional 164,270 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock valued at $73,867,000 after purchasing an additional 286,450 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in Popular by 2.1% during the 1st quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock valued at $62,889,000 after purchasing an additional 14,810 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BPOP. Barclays decreased their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hovde Group raised their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company decreased their price objective on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Piper Sandler decreased their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Popular has an average rating of “Moderate Buy” and an average target price of $104.88.

Popular Stock Down 0.2 %

Shares of NASDAQ:BPOP opened at $96.09 on Friday. The company has a market cap of $6.95 billion, a PE ratio of 13.05, a P/E/G ratio of 0.77 and a beta of 0.79. The company’s 50-day moving average price is $96.54 and its 200 day moving average price is $93.92. Popular, Inc. has a fifty-two week low of $71.08 and a fifty-two week high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.65%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Popular, Inc. will post 8.46 EPS for the current year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. The ex-dividend date was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.58%. Popular’s dividend payout ratio (DPR) is 33.70%.

Insiders Place Their Bets

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the sale, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,242 shares of company stock worth $1,102,880. 2.09% of the stock is owned by corporate insiders.

About Popular

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.