Brooklyn Investment Group Acquires Shares of 469 Popular, Inc. (NASDAQ:BPOP)

Brooklyn Investment Group acquired a new stake in Popular, Inc. (NASDAQ:BPOP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 469 shares of the bank’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BPOP. Atria Investments Inc bought a new stake in Popular in the first quarter valued at approximately $1,104,000. Boston Partners raised its stake in Popular by 262.7% in the first quarter. Boston Partners now owns 103,293 shares of the bank’s stock valued at $9,097,000 after buying an additional 74,818 shares during the period. GAMMA Investing LLC raised its stake in 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 buying an additional 181 shares during the period. Mather Group LLC. bought a new stake in Popular in the second quarter valued at approximately $44,000. Finally, Harbor Capital Advisors Inc. raised its stake in Popular by 249.1% in the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after buying an additional 23,436 shares during the period. Institutional investors own 87.27% of the company’s stock.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $99.36 on Friday. The company has a market capitalization of $7.09 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.78 and a beta of 0.79. Popular, Inc. has a 1 year low of $72.80 and a 1 year high of $105.01. The business’s 50 day simple moving average is $96.55 and its 200 day simple moving average is $94.66.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.35% 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 period in the prior year, the company earned $1.90 EPS. On average, sell-side analysts anticipate that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is currently 33.70%.

Insider Buying and Selling at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This trade represents a 35.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % 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

BPOP has been the topic of a number of recent research reports. Piper Sandler lowered their target price on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays lowered their target price on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lowered their target price on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.88.

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.