14,233 Shares of Popular, Inc. $BPOP Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Popular, Inc. (NASDAQ:BPOP – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,233 shares of the bank’s stock, valued at approximately $2,213,000.

Several other large investors have also recently bought and sold shares of BPOP. Founders Financial Securities LLC acquired a new position in Popular in the 3rd quarter valued at $676,000. Childress Capital Advisors LLC grew its stake in shares of Popular by 5.2% in the third quarter. Childress Capital Advisors LLC now owns 2,134 shares of the bank’s stock valued at $332,000 after acquiring an additional 106 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Popular in the third quarter valued at about $5,712,000. Latitude Advisors LLC bought a new position in Popular during the third quarter worth about $34,000. Finally, Citizens Financial Group Inc. RI bought a new position in Popular during the third quarter worth about $234,000. 87.27% of the stock is owned by institutional investors.

Popular Price Performance

BPOP stock opened at $156.52 on Friday. Popular, Inc. has a 1 year low of $109.01 and a 1 year high of $179.24. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.47 and a beta of 0.63. The company has a 50 day simple moving average of $160.55 and a 200 day simple moving average of $153.94.

Popular (NASDAQ:BPOP – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.26. The company had revenue of $874.59 million during the quarter, compared to the consensus estimate of $904.43 million. Popular had a net margin of 22.36% and a return on equity of 16.08%. During the same period in the prior year, the business earned $3.14 earnings per share. On average, equities research analysts anticipate that Popular, Inc. will post 16.05 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 13th. Popular’s payout ratio is 22.68%.

Insider Transactions at Popular

In related news, CEO Javier D. Ferrer sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $175.43, for a total value of $6,140,050.00. Following the completion of the transaction, the chief executive officer owned 96,478 shares in the company, valued at $16,925,135.54. This trade represents a 26.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lidio Soriano sold 3,000 shares of Popular stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $174.50, for a total transaction of $523,500.00. Following the sale, the executive vice president owned 107,320 shares in the company, valued at approximately $18,727,340. This represents a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 38,600 shares of company stock worth $6,764,824. Insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BPOP shares. Wells Fargo & Company dropped their price objective on shares of Popular from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Keefe, Bruyette & Woods lifted their price objective on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Royal Bank Of Canada upped their target price on Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Truist Financial upped their target price on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Barclays boosted their price target on Popular from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $186.83.

Check Out Our Latest Stock Report on Popular

About Popular

(Free Report)

Popular, Inc is a financial holding company headquartered in San Juan, Puerto Rico. Founded in 1893, it provides banking and other financial services primarily in Puerto Rico and the U.S. mainland.

Its principal subsidiary, Banco Popular de Puerto Rico, serves individuals and businesses with consumer and commercial banking, mortgage lending, and related financial services. Popular also operates Popular Bank in the mainland United States and provides auto financing through Popular Auto.

Ignacio Alvarez is Popular’s president and chief executive officer.

See Also

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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