LSV Asset Management Buys 28,900 Shares of Popular, Inc. (NASDAQ:BPOP)

LSV Asset Management grew its position in shares of Popular, Inc. (NASDAQ:BPOP) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 698,400 shares of the bank’s stock after purchasing an additional 28,900 shares during the quarter. LSV Asset Management owned about 0.97% of Popular worth $57,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in Popular by 63.0% in the fourth quarter. Amalgamated Bank now owns 17,442 shares of the bank’s stock valued at $1,431,000 after buying an additional 6,744 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Popular in the 4th quarter valued at about $8,602,000. Fourth Sail Capital LP bought a new stake in shares of Popular during the 4th quarter valued at about $22,184,000. New York Life Investment Management LLC grew its stake in Popular by 7.3% during the fourth quarter. New York Life Investment Management LLC now owns 8,033 shares of the bank’s stock worth $659,000 after purchasing an additional 544 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Popular by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 255,048 shares of the bank’s stock worth $20,932,000 after purchasing an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Activity

In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is currently owned by corporate insiders.

Popular Trading Up 0.9 %

Shares of BPOP traded up $0.80 during trading hours on Friday, reaching $88.85. 319,710 shares of the stock traded hands, compared to its average volume of 354,922. Popular, Inc. has a 52 week low of $52.32 and a 52 week high of $89.81. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.84 and a beta of 0.81. The stock has a fifty day simple moving average of $84.89 and a 200 day simple moving average of $79.96.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were paid a $0.62 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.79%. Popular’s payout ratio is presently 36.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BPOP shares. Royal Bank of Canada raised their price objective on shares of Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Wells Fargo & Company increased their price objective on shares of Popular from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Piper Sandler increased their price target on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Hovde Group upped their target price on Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and a consensus price target of $99.89.

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.