Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP – Free Report) by 43.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,100 shares of the bank’s stock after buying an additional 18,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.10% of Popular worth $8,332,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Popular in the fourth quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Popular during the fourth quarter valued at $28,000. Parallel Advisors LLC raised its position in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Advisory Services Network LLC bought a new position in Popular in the 3rd quarter worth about $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in Popular in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.
Popular Stock Up 1.6%
Shares of NASDAQ BPOP opened at $174.16 on Wednesday. The firm’s 50-day moving average price is $161.97 and its 200-day moving average price is $146.79. Popular, Inc. has a 52-week low of $108.74 and a 52-week high of $175.12. The company has a market cap of $11.24 billion, a PE ratio of 11.77, a PEG ratio of 0.89 and a beta of 0.61.
Popular Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Popular’s payout ratio is 20.27%.
Insider Buying and Selling at Popular
In related news, Director Alejandro M. Ballester sold 23,000 shares of Popular stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total transaction of $3,450,000.00. Following the transaction, the director directly owned 34,588 shares in the company, valued at approximately $5,188,200. The trade was a 39.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $148.51, for a total transaction of $920,762.00. Following the transaction, the executive vice president directly owned 11,255 shares in the company, valued at $1,671,480.05. This represents a 35.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,500 shares of company stock worth $4,415,870. Insiders own 2.13% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on BPOP. Citigroup raised their price objective on shares of Popular from $178.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 4th. UBS Group raised their price target on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Benchmark boosted their price objective on shares of Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Zacks Research cut Popular from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $184.42.
Read Our Latest Stock Report on BPOP
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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