Thompson Siegel & Walmsley LLC Sells 5,824 Shares of Popular, Inc. $BPOP

Thompson Siegel & Walmsley LLC decreased its stake in Popular, Inc. (NASDAQ:BPOP) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,367 shares of the bank’s stock after selling 5,824 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Popular were worth $10,007,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Popular by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank’s stock worth $1,057,167,000 after purchasing an additional 37,424 shares during the period. AQR Capital Management LLC increased its stake in Popular by 56.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after purchasing an additional 1,065,452 shares in the last quarter. Geode Capital Management LLC increased its stake in Popular by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock valued at $175,057,000 after purchasing an additional 64,778 shares in the last quarter. LSV Asset Management increased its stake in Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank’s stock valued at $129,966,000 after purchasing an additional 88,765 shares in the last quarter. Finally, Norges Bank bought a new stake in Popular during the 4th quarter valued at about $104,955,000. Institutional investors own 87.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BPOP. Piper Sandler raised their price objective on shares of Popular from $156.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Citigroup boosted their target price on shares of Popular from $170.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their price target on shares of Popular from $135.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, March 30th. UBS Group boosted their target price on shares of Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Popular has a consensus rating of “Buy” and a consensus price target of $168.73.

Popular Trading Down 0.5%

NASDAQ BPOP opened at $147.78 on Tuesday. The company’s 50-day moving average price is $144.29 and its 200-day moving average price is $133.90. The stock has a market cap of $9.54 billion, a PE ratio of 10.91, a PEG ratio of 0.74 and a beta of 0.63. Popular, Inc. has a 12 month low of $102.00 and a 12 month high of $152.97.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.48. The firm had revenue of $816.08 million for the quarter, compared to analysts’ expectations of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same period in the prior year, the business posted $2.56 earnings per share. As a group, sell-side analysts forecast that Popular, Inc. will post 15.14 earnings per share for the current year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.0%. Popular’s dividend payout ratio is 22.16%.

Insider Buying and Selling

In related news, Director Alejandro M. Sanchez sold 300 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares of the company’s stock, valued at $595,425.60. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alejandro M. Ballester sold 23,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the completion of the sale, the director directly owned 34,588 shares of the company’s stock, valued at approximately $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,500 shares of company stock valued at $4,415,870 over the last three months. 2.13% of the stock is owned by company insiders.

Popular 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.