Oppenheimer Asset Management Inc. Grows Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Oppenheimer Asset Management Inc. raised its stake in Popular, Inc. (NASDAQ:BPOP) by 35.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,634 shares of the bank’s stock after buying an additional 8,012 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Popular were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BPOP. Principal Securities Inc. purchased a new stake in Popular in the 4th quarter valued at about $83,000. Janney Montgomery Scott LLC boosted its position in Popular by 13.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,085 shares of the bank’s stock valued at $499,000 after buying an additional 729 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Popular in the 4th quarter worth approximately $276,000. Norges Bank purchased a new stake in shares of Popular in the 4th quarter worth approximately $66,881,000. Finally, UBS Group AG lifted its position in shares of Popular by 12.7% in the 4th quarter. UBS Group AG now owns 139,694 shares of the bank’s stock worth $11,465,000 after purchasing an additional 15,710 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BPOP shares. Barclays upped their price target on shares of Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Piper Sandler started coverage on shares of Popular in a research report on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target for the company. Royal Bank of Canada upped their price target on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a research report on Thursday, July 25th. Finally, Hovde Group upped their price target on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Popular Trading Up 0.7 %

Shares of Popular stock opened at $98.95 on Wednesday. Popular, Inc. has a 12-month low of $59.27 and a 12-month high of $105.01. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.65 and a beta of 0.78. The firm’s 50 day simple moving average is $98.29 and its two-hundred day simple moving average is $90.63.

Popular (NASDAQ:BPOP) last issued 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. Popular had a net margin of 12.20% and a return on equity of 11.73%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. During the same quarter in the prior year, the business posted $2.10 EPS. On average, sell-side analysts predict that Popular, Inc. will post 8.86 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.51%. Popular’s payout ratio is 36.80%.

Insider Buying and Selling at Popular

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

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.