Penbrook Management LLC Decreases Position in Popular, Inc. $BPOP

Penbrook Management LLC cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 53.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,500 shares of the bank’s stock after selling 6,350 shares during the quarter. Penbrook Management LLC’s holdings in Popular were worth $738,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in shares of Popular in the fourth quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Popular during the 4th quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Popular during the 3rd quarter valued at approximately $31,000. Parallel Advisors LLC increased its stake in shares of Popular by 70.8% in the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after acquiring an additional 102 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Popular during the fourth quarter worth $50,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

NASDAQ BPOP opened at $167.19 on Friday. The company has a market cap of $10.79 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The stock’s 50 day simple moving average is $151.73 and its 200-day simple moving average is $139.43. Popular, Inc. has a 1-year low of $108.18 and a 1-year high of $169.14.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The business had revenue of $816.08 million during the quarter, compared to analyst estimates of $866.54 million. During the same quarter in the prior year, the firm earned $2.56 earnings per share. On average, equities research analysts anticipate that Popular, Inc. will post 15.14 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. Popular’s dividend payout ratio is presently 22.16%.

Insider Buying and Selling at Popular

In other news, Director Alejandro M. Sanchez sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the transaction, the director directly owned 3,960 shares in the company, valued at approximately $595,425.60. This represents a 7.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Ballester sold 23,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the transaction, the director owned 34,588 shares in the company, valued at $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,500 shares of company stock valued at $4,415,870 over the last 90 days. 2.13% of the stock is owned by insiders.

Analyst Ratings Changes

BPOP has been the topic of several analyst reports. Royal Bank Of Canada increased their price target on Popular from $141.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Piper Sandler reissued an “overweight” rating on shares of Popular in a report on Monday. Barclays upped their target price on Popular from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 4th. Finally, UBS Group boosted their price target on Popular from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $169.64.

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.