Charles Schwab Investment Management Inc. Decreases Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Charles Schwab Investment Management Inc. cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 712,957 shares of the bank’s stock after selling 18,555 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.99% of Popular worth $71,488,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in shares of Popular in the 3rd quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in Popular in the third quarter worth about $35,000. Mather Group LLC. bought a new stake in Popular during the second quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new stake in Popular during the second quarter valued at approximately $48,000. Finally, GAMMA Investing LLC lifted its stake in shares of Popular by 16.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular Trading Down 1.1 %

Shares of BPOP stock opened at $99.72 on Friday. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.80 and a beta of 0.79. Popular, Inc. has a twelve month low of $71.23 and a twelve month high of $105.01. The stock has a fifty day simple moving average of $96.57 and a two-hundred day simple moving average of $94.60.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share 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 analysts’ expectations of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. Popular’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. Research analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.81%. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 6th. Popular’s dividend payout ratio is presently 38.04%.

Insider Activity

In other Popular news, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the sale, the executive vice president now owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now directly owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler decreased their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada lowered their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays cut their price target on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.88.

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.