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

Allspring Global Investments Holdings LLC trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP – Get Rating) by 24.1% during the 3rd quarter, Holdings Channel reports. The firm owned 12,353 shares of the bank’s stock after selling 3,917 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Popular during the 2nd quarter valued at $25,000. Private Trust Co. NA purchased a new position in shares of Popular during the second quarter valued at about $26,000. CWM LLC increased its holdings in shares of Popular by 102.2% in the second quarter. CWM LLC now owns 362 shares of the bank’s stock worth $28,000 after purchasing an additional 183 shares during the last quarter. Covestor Ltd lifted its position in shares of Popular by 68.9% in the first quarter. Covestor Ltd now owns 1,096 shares of the bank’s stock worth $90,000 after buying an additional 447 shares in the last quarter. Finally, Denali Advisors LLC bought a new position in Popular during the third quarter valued at approximately $79,000. 86.01% of the stock is currently owned by institutional investors.

Popular Price Performance

NASDAQ:BPOP opened at $68.83 on Monday. The firm 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 1 year low of $62.55 and a 1 year high of $95.28. The business has a 50 day simple moving average of $67.68 and a 200-day simple moving average of $72.89.

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

Popular Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BPOP. UBS Group dropped their price target on Popular to $100.00 in a research note on Wednesday, November 16th. Wells Fargo & Company dropped their price target on Popular from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. StockNews.com lowered Popular from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Royal Bank of Canada dropped their price target on Popular from $91.00 to $80.00 in a research note on Thursday, October 27th. Finally, Piper Sandler dropped their price target on Popular to $90.00 in a research note on Tuesday, November 1st.

About Popular

(Get Rating)

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.