Popular, Inc. (NASDAQ:BPOP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in Popular, Inc. (NASDAQ:BPOP) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,495 shares of the bank’s stock after selling 139 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Popular were worth $3,058,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BPOP. Janney Montgomery Scott LLC grew its position in shares of Popular by 53.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,360 shares of the bank’s stock valued at $825,000 after purchasing an additional 3,275 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Popular by 7.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank’s stock valued at $268,000 after purchasing an additional 208 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Popular in the first quarter valued at approximately $42,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Popular in the first quarter valued at approximately $19,997,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Popular by 1.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,225 shares of the bank’s stock valued at $3,079,000 after buying an additional 475 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the executive vice president now owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total transaction of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,242 shares of company stock valued at $1,102,880. Company insiders own 2.09% of the company’s stock.

Popular Stock Down 0.2 %

NASDAQ:BPOP opened at $96.09 on Friday. The company has a market cap of $6.95 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.77 and a beta of 0.79. Popular, Inc. has a fifty-two week low of $71.08 and a fifty-two week high of $105.01. The firm’s 50 day moving average is $96.54 and its two-hundred day moving average is $93.92.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). Popular had a return on equity of 11.65% and a net margin of 12.36%. The company had revenue of $736.56 million for the quarter, compared to analysts’ expectations of $766.62 million. During the same period in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that Popular, Inc. will post 8.46 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, September 13th. Popular’s dividend payout ratio is presently 33.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BPOP shares. Piper Sandler reduced their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price objective (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Wells Fargo & Company reduced their price objective on shares of 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, Barclays reduced their price objective on shares of Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

Popular Company 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.