Popular, Inc. (NASDAQ:BPOP) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Popular, Inc. (NASDAQ:BPOP) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,813 shares of the bank’s stock after selling 2,048 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Popular were worth $1,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Popular during the first quarter worth about $42,000. Mather Group LLC. purchased a new stake in Popular during the second quarter worth about $44,000. Meeder Asset Management Inc. purchased a new stake in Popular during the second quarter worth about $48,000. GAMMA Investing LLC increased its stake in Popular by 16.8% during the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after purchasing an additional 181 shares during the period. Finally, Clear Street Markets LLC purchased a new stake in Popular during the fourth quarter worth about $139,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BPOP shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price target (up from $110.00) on shares of Popular in a research note on Thursday, July 25th. Hovde Group upped their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays upped their target price on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada upped their target price on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Piper Sandler initiated coverage on shares of Popular in a research note on Monday, August 26th. They set an “overweight” rating and a $112.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Activity

In other news, EVP Camille Burckhart sold 5,917 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the sale, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at $2,920,387.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Popular Stock Down 0.9 %

Shares of BPOP opened at $94.55 on Thursday. The stock has a 50 day moving average price of $98.57 and a 200 day moving average price of $91.76. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. Popular, Inc. has a 52-week low of $59.27 and a 52-week high of $105.01.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same period in the prior year, the company posted $2.10 earnings per share. On average, equities analysts anticipate that Popular, Inc. will post 8.86 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, September 13th. Popular’s payout ratio is currently 36.80%.

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.