LSV Asset Management Raises Holdings in Popular, Inc. $BPOP

LSV Asset Management lifted its holdings in Popular, Inc. (NASDAQ:BPOP) by 34.3% during the third quarter, Holdings Channel reports. The institutional investor owned 954,968 shares of the bank’s stock after purchasing an additional 244,108 shares during the quarter. LSV Asset Management’s holdings in Popular were worth $121,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BPOP. Allworth Financial LP lifted its holdings in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after acquiring an additional 367 shares during the period. True Wealth Design LLC increased its holdings in shares of Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after purchasing an additional 255 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Popular by 3,925.0% in the 2nd quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock valued at $53,000 after purchasing an additional 471 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Popular by 84.2% in the third quarter. Smartleaf Asset Management LLC now owns 593 shares of the bank’s stock valued at $76,000 after purchasing an additional 271 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Popular by 63.2% during the third quarter. Farther Finance Advisors LLC now owns 682 shares of the bank’s stock worth $87,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

Shares of Popular stock opened at $141.97 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $149.31. The business has a 50 day moving average price of $128.74 and a 200 day moving average price of $122.43. The company has a market capitalization of $9.47 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.90 and a beta of 0.63.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The firm had revenue of $815.98 million for the quarter, compared to analysts’ expectations of $811.55 million. During the same quarter in the prior year, the firm earned $2.51 EPS. As a group, research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Analyst Ratings Changes

BPOP has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Popular in a report on Wednesday, January 21st. Hovde Group upped their price target on Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Royal Bank Of Canada raised their price objective on Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods boosted their target price on Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, Truist Financial upped their target price on Popular from $153.00 to $164.00 and gave the company a “buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $155.73.

Insider Buying and Selling

In related news, VP Adorno Denissa Rodriguez sold 1,000 shares of Popular stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $114.84, for a total transaction of $114,840.00. Following the completion of the sale, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. This trade represents a 27.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alejandro M. Ballester sold 2,360 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the completion of the transaction, the director directly owned 57,449 shares of the company’s stock, valued at $7,611,992.50. The trade was a 3.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,360 shares of company stock worth $3,265,040. 2.09% of the stock is owned by corporate insiders.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.