Popular, Inc. (NASDAQ:BPOP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 2.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 712,957 shares of the bank’s stock after selling 18,555 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Popular were worth $71,488,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in Popular during the third quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Popular during the 3rd quarter worth approximately $35,000. Mather Group LLC. acquired a new stake in shares of Popular during the 2nd quarter worth approximately $44,000. Meeder Asset Management Inc. acquired a new position in shares of Popular in the 2nd quarter valued at $48,000. Finally, GAMMA Investing LLC raised its position in shares of Popular by 16.8% in the second quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock worth $111,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Insider Transactions at Popular

In other Popular news, 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 of the company’s stock, valued at $2,490,403.40. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the completion of the sale, the vice president now owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

BPOP has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of 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 Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price target on shares of Popular from $117.00 to $104.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.88.

Popular Price Performance

Shares of NASDAQ BPOP opened at $99.72 on Friday. The stock’s 50-day moving average is $96.57 and its two-hundred day moving average is $94.60. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.79. Popular, Inc. has a 1-year low of $71.23 and a 1-year high of $105.01.

Popular (NASDAQ:BPOP) last issued its 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). Popular had a net margin of 12.36% and a return on equity of 11.35%. The firm had revenue of $736.56 million during the quarter, compared to analyst estimates of $766.62 million. During the same period last year, the business earned $1.90 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is presently 38.04%.

About Popular

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.