Popular, Inc. (NASDAQ:BPOP) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its stake in Popular, Inc. (NASDAQ:BPOP) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,869,774 shares of the bank’s stock after selling 139,144 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.05% of Popular worth $342,195,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Popular in the 1st quarter valued at about $42,000. Mather Group LLC. acquired a new stake in shares of Popular in the second quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new stake in shares of Popular during the second quarter worth approximately $48,000. Principal Securities Inc. acquired a new position in Popular in the 4th quarter valued at $83,000. Finally, GAMMA Investing LLC raised its stake in 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 and hedge funds own 87.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction that occurred 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 is available through this hyperlink. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

BPOP stock opened at $98.31 on Tuesday. Popular, Inc. has a one year low of $59.27 and a one year high of $105.01. The firm has a market cap of $7.11 billion, a PE ratio of 14.59, a PEG ratio of 0.65 and a beta of 0.78. The firm’s 50 day moving average price is $98.06 and its 200-day moving average price is $90.52.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (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 analysts’ expectations of $751.57 million. During the same quarter last year, the firm earned $2.10 earnings per share. Equities research analysts predict that Popular, Inc. will post 8.86 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.62 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.52%. Popular’s payout ratio is currently 36.80%.

Wall Street Analysts Forecast Growth

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

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.