Foster & Motley Inc. Buys New Position in Popular, Inc. $BPOP

Foster & Motley Inc. purchased a new position in shares of Popular, Inc. (NASDAQ:BPOP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,751 shares of the bank’s stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BPOP. Acumen Wealth Advisors LLC purchased a new position in shares of Popular during the fourth quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Popular during the 4th quarter worth $28,000. Parallel Advisors LLC boosted its holdings in shares of Popular by 70.8% during the fourth quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Popular during the third quarter worth $31,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Popular in the fourth quarter valued at $50,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Popular

In other news, EVP Lidio Soriano sold 3,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the sale, the executive vice president owned 107,320 shares of the company’s stock, valued at $18,727,340. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Luis E. Cestero sold 8,500 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total value of $1,499,060.00. Following the completion of the sale, the executive vice president owned 16,013 shares of the company’s stock, valued at approximately $2,824,052.68. This trade represents a 34.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 53,261 shares of company stock worth $9,336,093. Corporate insiders own 2.13% of the company’s stock.

Popular Stock Performance

NASDAQ BPOP opened at $170.57 on Thursday. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.67 and a beta of 0.61. Popular, Inc. has a one year low of $108.74 and a one year high of $179.24. The company’s 50 day moving average price is $169.63 and its 200 day moving average price is $152.16.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.34%. The company had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. During the same period in the previous year, the firm earned $3.09 earnings per share. Sell-side analysts forecast that Popular, Inc. will post 15.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BPOP. Royal Bank Of Canada increased their target price on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. UBS Group upped their price objective on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Piper Sandler reiterated an “overweight” rating and set a $198.00 price objective (up from $190.00) on shares of Popular in a report on Friday, July 24th. Barclays raised their target price on shares of Popular from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Citigroup upped their price target on shares of Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $186.92.

Popular 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.