Wedge Capital Management L L P NC Acquires 671 Shares of Popular, Inc. (NASDAQ:BPOP)

Wedge Capital Management L L P NC boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,912 shares of the bank’s stock after buying an additional 671 shares during the period. Wedge Capital Management L L P NC’s holdings in Popular were worth $1,896,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of Popular by 3.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,087 shares of the bank’s stock worth $361,000 after acquiring an additional 118 shares during the period. Wedmont Private Capital raised its stake in shares of Popular by 6.7% in the 1st quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock valued at $237,000 after purchasing an additional 171 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Popular by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank’s stock worth $268,000 after buying an additional 208 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Popular by 8.6% during the third quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock worth $388,000 after buying an additional 307 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

BPOP has been the topic of several research reports. Royal Bank of Canada boosted their target price on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays boosted their price objective on shares of Popular from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company downgraded shares of Popular from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $115.00 to $105.00 in a research report on Tuesday, October 1st. Piper Sandler began coverage on shares of Popular in a research report on Monday, August 26th. They set an “overweight” rating and a $112.00 price target on the stock. Finally, Hovde Group raised their price objective on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.38.

Insider Activity

In related news, EVP Camille Burckhart sold 5,917 shares of Popular stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.09% of the company’s stock.

Popular Stock Performance

Shares of BPOP stock opened at $101.25 on Thursday. The firm’s 50-day moving average is $98.44 and its 200-day moving average is $92.64. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.66 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 issued its earnings results on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.08 by $0.38. Popular had a return on equity of 11.73% and a net margin of 12.20%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. During the same period in the previous year, the company posted $2.10 EPS. Sell-side analysts predict that Popular, Inc. will post 8.74 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.45%. Popular’s dividend payout ratio is currently 36.80%.

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.