Allspring Global Investments Holdings LLC Sells 3,917 Shares of Popular, Inc. (NASDAQ:BPOP)

Allspring Global Investments Holdings LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP – Get Rating) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,353 shares of the bank’s stock after selling 3,917 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $890,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BPOP. Riverview Trust Co acquired a new position in Popular during the 2nd quarter valued at about $25,000. Private Trust Co. NA acquired a new position in Popular during the 2nd quarter valued at about $26,000. CWM LLC increased its position in Popular by 102.2% during the 2nd quarter. CWM LLC now owns 362 shares of the bank’s stock valued at $28,000 after buying an additional 183 shares in the last quarter. Denali Advisors LLC acquired a new position in Popular during the 3rd quarter valued at about $79,000. Finally, Covestor Ltd lifted its holdings in shares of Popular by 68.9% during the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after purchasing an additional 447 shares during the period. 86.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Popular from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, December 15th. StockNews.com downgraded shares of Popular from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Piper Sandler cut their price target on shares of Popular to $90.00 in a report on Tuesday, November 1st. Royal Bank of Canada cut their price target on shares of Popular from $91.00 to $80.00 in a report on Thursday, October 27th. Finally, UBS Group cut their price target on shares of Popular to $100.00 in a report on Wednesday, November 16th.

Popular Price Performance

Shares of NASDAQ BPOP opened at $68.83 on Monday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 5.01 and a beta of 0.87. Popular, Inc. has a 12 month low of $62.55 and a 12 month high of $95.28. The firm’s 50 day simple moving average is $67.68 and its 200-day simple moving average is $72.89.

Popular (NASDAQ:BPOP – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The bank reported $5.70 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $3.17. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $709.10 million. Popular had a net margin of 32.87% and a return on equity of 22.68%. Analysts anticipate that Popular, Inc. will post 13.91 earnings per share for the current fiscal year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Wednesday, December 7th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $2.20 dividend on an annualized basis and a yield of 3.20%. Popular’s dividend payout ratio is currently 16.01%.

Popular Profile

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Popular, Inc operates as a holding company. The firm engages in the provision of banking and financial services. It operates through the following segments: Banco Popular de Puerto Rico, Popular U.S., and Corporate Group. The Banco Popular de Puerto Rico segment includes commercial banking, consumer and retail banking, and other financial services.