Lazard Asset Management LLC Increases Stake in Popular, Inc. (NASDAQ:BPOP)

Lazard Asset Management LLC increased its position in Popular, Inc. (NASDAQ:BPOPGet Rating) by 127.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,550 shares of the bank’s stock after purchasing an additional 1,429 shares during the period. Lazard Asset Management LLC’s holdings in Popular were worth $196,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Popular in the 2nd quarter worth about $25,000. CWM LLC increased its holdings in Popular by 102.2% in the 2nd quarter. CWM LLC now owns 362 shares of the bank’s stock worth $28,000 after acquiring an additional 183 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Popular in the 1st quarter worth about $33,000. Covestor Ltd increased its holdings in Popular by 68.9% in the 1st quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after acquiring an additional 447 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in Popular during the 1st quarter valued at about $129,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.

Popular Trading Up 0.0 %

Shares of BPOP opened at $69.40 on Monday. The company has a market cap of $5.04 billion, a PE ratio of 5.05 and a beta of 0.85. The stock has a 50-day moving average price of $72.90 and a 200-day moving average price of $76.58. Popular, Inc. has a 12-month low of $65.47 and a 12-month high of $99.49.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.17%. Popular’s dividend payout ratio (DPR) is presently 16.01%.

Analysts Set New Price Targets

A number of research firms have weighed in on BPOP. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Royal Bank of Canada reduced their target price on Popular from $91.00 to $80.00 in a report on Thursday, October 27th. Piper Sandler reduced their target price on Popular to $90.00 in a report on Tuesday, November 1st. Wells Fargo & Company reduced their target price on Popular from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, October 27th. Finally, UBS Group reduced their target price on Popular to $100.00 in a report on Wednesday, November 16th.

Insider Activity

In related 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 value of $774,461.30. Following the completion of the sale, the chief financial officer now owns 118,015 shares in the company, valued at approximately $9,486,045.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 value of $110,944.26. Following the completion of the sale, the vice president now owns 9,299 shares in the company, valued at approximately $745,965.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief financial officer now owns 118,015 shares of the company’s stock, valued at approximately $9,486,045.70. The disclosure for this sale can be found here. Corporate insiders own 1.88% of the company’s stock.

About Popular

(Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and 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.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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