2,186 Shares in Popular, Inc. (NASDAQ:BPOP) Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC bought a new position in Popular, Inc. (NASDAQ:BPOP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,186 shares of the bank’s stock, valued at approximately $206,000.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp grew its holdings in shares of Popular by 0.5% in the 3rd quarter. State Street Corp now owns 2,056,377 shares of the bank’s stock worth $207,475,000 after acquiring an additional 10,599 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after acquiring an additional 71,782 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Popular by 8.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank’s stock valued at $90,537,000 after buying an additional 67,620 shares in the last quarter. Verition Fund Management LLC raised its position in Popular by 3.7% during the third quarter. Verition Fund Management LLC now owns 629,537 shares of the bank’s stock valued at $63,124,000 after buying an additional 22,355 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in Popular by 18.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock valued at $54,954,000 after buying an additional 84,839 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Popular

In other news, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BPOP has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Barclays upped their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company upped their price target on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.25.

Popular Price Performance

Shares of BPOP stock opened at $101.48 on Tuesday. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.46. The stock’s 50-day moving average is $97.54 and its two-hundred day moving average is $97.51. The firm has a market cap of $7.24 billion, a P/E ratio of 11.86, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio is 32.71%.

Popular Company 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.