Popular, Inc. (NASDAQ:BPOP) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC cut its position in Popular, Inc. (NASDAQ:BPOP) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,330 shares of the bank’s stock after selling 2,048 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.17% of Popular worth $11,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Popular by 2.9% in the second quarter. Envestnet Asset Management Inc. now owns 77,291 shares of the bank’s stock worth $6,835,000 after acquiring an additional 2,159 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Popular by 35.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 30,634 shares of the bank’s stock worth $2,709,000 after purchasing an additional 8,012 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Popular by 1.0% in the 2nd quarter. Federated Hermes Inc. now owns 233,353 shares of the bank’s stock valued at $20,635,000 after purchasing an additional 2,250 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Popular during the 2nd quarter valued at approximately $48,000. Finally, Vest Financial LLC grew its position in shares of Popular by 26.9% during the second quarter. Vest Financial LLC now owns 12,903 shares of the bank’s stock worth $1,141,000 after buying an additional 2,739 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BPOP. Hovde Group increased their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $110.00) on shares of Popular in a research report on Thursday, July 25th. Piper Sandler started coverage on Popular in a report on Monday, August 26th. They issued an “overweight” rating and a $112.00 price objective for the company. Barclays increased their target price on Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Popular Price Performance

Shares of BPOP opened at $97.57 on Monday. Popular, Inc. has a 12 month low of $59.27 and a 12 month high of $105.01. The stock has a fifty day moving average price of $97.82 and a 200 day moving average price of $90.41. The company has a market cap of $7.05 billion, a P/E ratio of 14.48, a PEG ratio of 0.65 and a beta of 0.78.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.08 by $0.38. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same quarter in the prior year, the firm earned $2.10 earnings per share. As a group, research analysts anticipate that Popular, Inc. will post 8.86 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.54%. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Popular 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.