Popular, Inc. $BPOP Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Popular, Inc. (NASDAQ:BPOP) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 359,917 shares of the bank’s stock after selling 8,345 shares during the period. New York State Common Retirement Fund owned approximately 0.53% of Popular worth $45,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after purchasing an additional 255 shares during the last quarter. Allworth Financial LP grew its position in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after buying an additional 367 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock valued at $46,000 after buying an additional 221 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Popular by 3,925.0% during the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after acquiring an additional 471 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Popular during the 2nd quarter worth $143,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 0.2%

BPOP stock opened at $133.53 on Friday. The company has a 50 day moving average of $123.66 and a two-hundred day moving average of $120.62. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $134.27. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.55 and a beta of 0.63.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The business had revenue of $815.98 million during the quarter, compared to analyst estimates of $811.55 million. During the same period last year, the company earned $2.51 earnings per share. On average, research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Popular’s dividend payout ratio (DPR) is presently 24.35%.

Insider Buying and Selling

In other Popular news, VP Adorno Denissa Rodriguez sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the completion of the sale, the vice president directly owned 2,604 shares of the company’s stock, valued at $299,043.36. The trade was a 27.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard L. Carrion sold 25,000 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the transaction, the director owned 193,020 shares in the company, valued at $21,907,770. This represents a 11.47% decrease in their position. The SEC filing for this sale provides additional information. 2.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BPOP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Popular in a research report on Wednesday, January 21st. Royal Bank Of Canada upped their price objective on shares of Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler assumed coverage on shares of Popular in a research report on Thursday, January 15th. They issued an “overweight” rating and a $152.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Finally, Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and an average price target of $154.00.

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.