Popular, Inc. (NASDAQ:BPOP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in Popular, Inc. (NASDAQ:BPOP) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,051 shares of the bank’s stock after selling 2,577 shares during the period. Victory Capital Management Inc.’s holdings in Popular were worth $26,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arcus Capital Partners LLC acquired a new position in Popular during the 3rd quarter valued at approximately $201,000. Versor Investments LP boosted its holdings in shares of Popular by 418.4% during the third quarter. Versor Investments LP now owns 19,700 shares of the bank’s stock valued at $1,975,000 after acquiring an additional 15,900 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Popular by 235.5% during the third quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock worth $33,299,000 after acquiring an additional 233,119 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after acquiring an additional 143 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Popular during the third quarter worth approximately $35,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BPOP. Barclays lowered their target price on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Popular currently has an average rating of “Moderate Buy” and a consensus target price of $104.88.

Insider Activity

In other news, EVP Beatriz Castellvi sold 3,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total transaction of $577,499.20. Following the sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,242 shares of company stock worth $1,102,880 over the last 90 days. 2.09% of the stock is owned by company insiders.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $96.09 on Monday. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.75 and a beta of 0.79. Popular, Inc. has a 1-year low of $71.08 and a 1-year high of $105.01. The company has a 50 day moving average price of $96.52 and a 200 day moving average price of $94.05.

Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.35% and a net margin of 12.36%. The company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. During the same period last year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is currently 33.70%.

Popular Profile

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.