Amalgamated Bank lowered its position in shares of Popular, Inc. (NASDAQ:BPOP – Get Rating) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,972 shares of the bank’s stock after selling 325 shares during the quarter. Amalgamated Bank’s holdings in Popular were worth $1,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BPOP. Vanguard Group Inc. raised its stake in shares of Popular by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 7,580,955 shares of the bank’s stock valued at $619,667,000 after buying an additional 35,331 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Popular by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,086,384 shares of the bank’s stock valued at $334,026,000 after buying an additional 42,504 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Popular by 59.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 901,588 shares of the bank’s stock valued at $73,696,000 after buying an additional 334,727 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Popular by 5.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 585,797 shares of the bank’s stock valued at $47,883,000 after buying an additional 28,481 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Popular by 21.0% during the 1st quarter. LSV Asset Management now owns 565,075 shares of the bank’s stock valued at $46,189,000 after buying an additional 98,100 shares during the last quarter. Institutional investors and hedge funds own 91.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BPOP. Piper Sandler reduced their price objective on Popular to $100.00 in a research note on Monday, July 4th. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, September 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Popular currently has an average rating of “Buy” and an average price target of $109.60.

Insiders Place Their Bets

In other Popular news, CFO Carlos J. Vazquez sold 9,635 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $80.38, for a total transaction of $774,461.30. Following the completion of the sale, the chief financial officer now directly owns 118,015 shares in the company, valued at approximately $9,486,045.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Jorge J. Garcia sold 1,383 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $80.22, for a total transaction of $110,944.26. Following the transaction, the vice president now directly owns 9,299 shares in the company, valued at approximately $745,965.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Carlos J. Vazquez sold 9,635 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $80.38, for a total value of $774,461.30. Following the transaction, the chief financial officer now owns 118,015 shares in the company, valued at $9,486,045.70. The disclosure for this sale can be found here. In the last three months, insiders sold 16,018 shares of company stock worth $1,290,856. Corporate insiders own 1.88% of the company’s stock.

Shares of Popular stock opened at $73.02 on Thursday. Popular, Inc. has a twelve month low of $70.69 and a twelve month high of $99.49. The business has a 50-day moving average price of $78.26 and a 200 day moving average price of $79.27. The firm has a market cap of $5.48 billion, a PE ratio of 6.56 and a beta of 0.90.

Popular (NASDAQ:BPOP – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The bank reported $2.77 EPS for the quarter, topping the consensus estimate of $2.52 by $0.25. Popular had a return on equity of 16.82% and a net margin of 31.09%. The company had revenue of $681.90 million during the quarter, compared to analyst estimates of $656.27 million. During the same period in the previous year, the business earned $2.66 EPS. Popular’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Popular, Inc. will post 10.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 6th. This represents a $2.20 annualized dividend and a yield of 3.01%. Popular’s dividend payout ratio (DPR) is currently 19.77%.

 

By: NickPosted on Categories: ENTERTAINMENT