Popular, Inc. (NASDAQ:BPOP) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Popular, Inc. (NASDAQ:BPOP) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,654 shares of the bank’s stock after selling 15,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.27% of Popular worth $19,718,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BPOP. Financial Management Professionals Inc. purchased a new position in Popular in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Popular in the 3rd quarter worth $35,000. Mather Group LLC. purchased a new position in shares of Popular during the 2nd quarter worth approximately $44,000. Brooklyn Investment Group purchased a new position in Popular in the third quarter worth $47,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Popular during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Activity

In other news, EVP Beatriz Castellvi sold 3,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on BPOP. Wells Fargo & Company lifted their price target on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on Popular from $103.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays boosted their price target on Popular from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada reduced their price objective on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Popular Stock Up 0.0 %

Shares of NASDAQ:BPOP opened at $99.86 on Friday. The business has a fifty day simple moving average of $96.51 and a 200-day simple moving average of $94.85. Popular, Inc. has a 52 week low of $74.97 and a 52 week high of $105.01. The company has a market cap of $7.12 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.77 and a beta of 0.81.

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

Popular Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is 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.