Meeder Asset Management Inc. lowered its position in Popular, Inc. (NASDAQ:BPOP – Free Report) by 92.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,220 shares of the bank’s stock after selling 112,720 shares during the quarter. Meeder Asset Management Inc.’s holdings in Popular were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BPOP. Acumen Wealth Advisors LLC acquired a new position in shares of Popular during the fourth quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Popular in the 4th quarter valued at approximately $28,000. Parallel Advisors LLC raised its stake in Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new stake in Popular during the 3rd quarter valued at $31,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Popular during the 4th quarter worth $50,000. Institutional investors own 87.27% of the company’s stock.
Insider Buying and Selling
In other Popular news, Director Alejandro M. Ballester sold 23,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the sale, the director directly owned 34,588 shares of the company’s stock, valued at approximately $5,188,200. This represents a 39.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alejandro M. Sanchez sold 300 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the transaction, the director owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,500 shares of company stock valued at $4,415,870 over the last three months. Company insiders own 2.13% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on Popular
Popular Price Performance
BPOP opened at $172.12 on Tuesday. The business has a 50 day moving average price of $158.68 and a two-hundred day moving average price of $144.87. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. Popular, Inc. has a 1-year low of $108.74 and a 1-year high of $174.69.
Popular (NASDAQ:BPOP – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.48. Popular had a return on equity of 14.53% and a net margin of 20.10%.The company had revenue of $816.08 million for the quarter, compared to analysts’ expectations of $866.54 million. During the same period last year, the firm earned $2.56 EPS. Equities analysts expect that Popular, Inc. will post 15.05 EPS for the current fiscal year.
Popular Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, May 29th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 annualized dividend and a yield of 1.7%. Popular’s dividend payout ratio (DPR) is currently 22.16%.
Popular Profile
Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.
The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.
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