Rock Point Advisors LLC Sells 872 Shares of Popular, Inc. (NASDAQ:BPOP)

Rock Point Advisors LLC reduced its stake in Popular, Inc. (NASDAQ:BPOP) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,146 shares of the bank’s stock after selling 872 shares during the period. Rock Point Advisors LLC’s holdings in Popular were worth $2,822,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. PEAK6 Investments LLC purchased a new stake in shares of Popular in the first quarter worth about $357,000. EMC Capital Management lifted its position in Popular by 26.2% during the first quarter. EMC Capital Management now owns 5,519 shares of the bank’s stock valued at $486,000 after purchasing an additional 1,147 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Popular in the 1st quarter worth $1,104,000. Boston Partners increased its holdings in shares of Popular by 262.7% in the 1st quarter. Boston Partners now owns 103,293 shares of the bank’s stock worth $9,097,000 after buying an additional 74,818 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the vice president now owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Popular Stock Performance

NASDAQ BPOP traded down $0.68 on Tuesday, reaching $101.12. 6,393 shares of the stock traded hands, compared to its average volume of 427,034. Popular, Inc. has a 12 month low of $71.08 and a 12 month high of $105.01. The company has a fifty day moving average price of $96.59 and a 200-day moving average price of $94.46. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.77 and a beta of 0.79.

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

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.70 dividend. This is an increase from Popular’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. Popular’s payout ratio is 33.70%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays cut their price target on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

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.