Assetmark Inc. Takes Position in Popular, Inc. (NASDAQ:BPOP)

Assetmark Inc. purchased a new stake in Popular, Inc. (NASDAQ:BPOPGet Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 380 shares of the bank’s stock, valued at approximately $27,000.

A number of other large investors also recently modified their holdings of the company. Yousif Capital Management LLC lifted its stake in shares of Popular by 5.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,856 shares of the bank’s stock valued at $233,000 after acquiring an additional 160 shares during the last quarter. OneAscent Wealth Management LLC lifted its stake in shares of Popular by 3.7% in the 2nd quarter. OneAscent Wealth Management LLC now owns 4,990 shares of the bank’s stock valued at $387,000 after acquiring an additional 177 shares during the last quarter. CWM LLC lifted its stake in shares of Popular by 102.2% in the 2nd quarter. CWM LLC now owns 362 shares of the bank’s stock valued at $28,000 after acquiring an additional 183 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in shares of Popular by 3.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 5,592 shares of the bank’s stock valued at $430,000 after acquiring an additional 200 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Popular by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 4,333 shares of the bank’s stock valued at $354,000 after acquiring an additional 239 shares during the last quarter. 86.01% of the stock is currently owned by institutional investors.

Popular Trading Up 2.3 %

Shares of Popular stock opened at $68.83 on Monday. The business has a 50-day moving average price of $67.68 and a two-hundred day moving average price of $72.89. Popular, Inc. has a 1-year low of $62.55 and a 1-year high of $95.28. The company has a market cap of $5.00 billion, a P/E ratio of 5.01 and a beta of 0.87.

Popular (NASDAQ:BPOPGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The bank reported $5.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $3.17. Popular had a return on equity of 22.68% and a net margin of 32.87%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $709.10 million. Equities research analysts forecast that Popular, Inc. will post 13.91 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, December 7th were issued a dividend of $0.55 per share. 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 payout ratio is currently 16.01%.

Wall Street Analysts Forecast Growth

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

Popular Profile

(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.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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