Brooklyn Investment Group Acquires New Shares in Popular, Inc. (NASDAQ:BPOP)

Brooklyn Investment Group acquired a new stake in shares of Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 469 shares of the bank’s stock, valued at approximately $47,000.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Popular by 249.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after acquiring an additional 23,436 shares in the last quarter. Algert Global LLC raised its position in Popular by 10.4% during the 2nd quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after purchasing an additional 8,317 shares during the last quarter. TCW Group Inc. raised its position in Popular by 70.7% during the 2nd quarter. TCW Group Inc. now owns 82,321 shares of the bank’s stock worth $7,280,000 after purchasing an additional 34,107 shares during the last quarter. Atria Investments Inc bought a new position in Popular during the 1st quarter worth $1,104,000. Finally, Acadian Asset Management LLC bought a new position in Popular during the 2nd quarter worth $2,283,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BPOP. Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lowered their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Barclays lowered their target price on Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lowered their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

Popular Trading Down 0.4 %

BPOP stock opened at $99.36 on Friday. Popular, Inc. has a 1-year low of $72.80 and a 1-year high of $105.01. The firm has a market cap of $7.09 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.78 and a beta of 0.79. The stock has a 50-day moving average price of $96.55 and a 200-day moving average price of $94.66.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, October 23rd. The bank reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same period in the previous year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.82%. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. Popular’s payout ratio is presently 33.70%.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

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.