Popular, Inc. (NASDAQ:BPOP) Holdings Cut by Atria Investments Inc

Atria Investments Inc lowered its holdings in Popular, Inc. (NASDAQ:BPOP) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,519 shares of the bank’s stock after selling 527 shares during the period. Atria Investments Inc’s holdings in Popular were worth $1,255,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in shares of Popular during the third quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular during the third quarter valued at approximately $35,000. Headlands Technologies LLC bought a new stake in shares of Popular during the first quarter valued at approximately $42,000. Mather Group LLC. bought a new stake in shares of Popular during the second quarter valued at approximately $44,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Popular during the second quarter valued at approximately $48,000. Institutional investors own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Hovde Group lifted their price target on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company cut their price target on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada lowered their price objective on shares of Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays lowered their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.88.

Insiders Place Their Bets

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,242 shares of company stock worth $1,102,880. Corporate insiders own 2.09% of the company’s stock.

Popular Stock Performance

Popular stock opened at $96.09 on Friday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79. Popular, Inc. has a 1 year low of $71.08 and a 1 year high of $105.01. The firm’s 50 day moving average price is $96.52 and its two-hundred day moving average price is $93.99.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The business had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.65% and a net margin of 12.36%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 EPS. As a group, equities analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, September 13th. Popular’s payout ratio is 33.70%.

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.