Bath Savings Trust Co Has $307,000 Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Bath Savings Trust Co lowered its position in Popular, Inc. (NASDAQ:BPOP) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,259 shares of the bank’s stock after selling 521 shares during the period. Bath Savings Trust Co’s holdings in Popular were worth $307,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BPOP. Mercer Global Advisors Inc. ADV grew its position in shares of Popular by 3.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock valued at $361,000 after purchasing an additional 118 shares during the period. Assetmark Inc. lifted its position in Popular by 4.0% in the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock valued at $376,000 after acquiring an additional 143 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Popular by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after purchasing an additional 148 shares during the period. Financial Management Professionals Inc. bought a new position in Popular during the 3rd quarter worth about $29,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of Popular by 8.6% in the third quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock valued at $388,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays increased their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada lowered their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. UBS Group started coverage on shares of Popular in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective on the stock. Piper Sandler decreased their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.25.

Popular Stock Performance

Shares of BPOP stock opened at $94.60 on Wednesday. Popular, Inc. has a 52-week low of $79.01 and a 52-week high of $105.01. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.76 and a beta of 0.81. The firm’s 50-day moving average is $95.60 and its 200-day moving average is $96.17.

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

Popular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $0.70 per share. This is an increase from Popular’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 6th. This represents a $2.80 annualized dividend and a yield of 2.96%. Popular’s dividend payout ratio (DPR) is currently 38.04%.

Insiders Place Their Bets

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

Popular Company 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.