Captrust Financial Advisors Increases Stock Position in Popular, Inc. (NASDAQ:BPOP)

Captrust Financial Advisors lifted its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,164 shares of the bank’s stock after buying an additional 325 shares during the quarter. Captrust Financial Advisors’ holdings in Popular were worth $674,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc lifted its stake in shares of Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock valued at $211,000 after buying an additional 112 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 118 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Popular by 0.7% during the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock valued at $1,971,000 after buying an additional 143 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Popular by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank’s stock valued at $2,949,000 after buying an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Popular by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock valued at $2,888,000 after buying an additional 214 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $104.52 on Friday. The company’s fifty day moving average price is $91.96 and its 200-day moving average price is $95.70. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s payout ratio is 28.90%.

Insider Transactions at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president now owns 3,604 shares of the company’s stock, valued at approximately $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BPOP shares. Keefe, Bruyette & Woods increased their target price on shares of Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Royal Bank of Canada increased their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Piper Sandler increased their target price on shares of Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays reiterated an “overweight” rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Finally, Hovde Group lowered their target price on shares of Popular from $118.00 to $114.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.43.

About Popular

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