Ritholtz Wealth Management Sells 1,705 Shares of Popular, Inc. (NASDAQ:BPOP)

Ritholtz Wealth Management lowered its holdings in Popular, Inc. (NASDAQ:BPOP) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,413 shares of the bank’s stock after selling 1,705 shares during the quarter. Ritholtz Wealth Management’s holdings in Popular were worth $2,247,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Popular by 3.6% in the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock valued at $25,924,000 after acquiring an additional 10,308 shares in the last quarter. Sei Investments Co. increased its position in shares of Popular by 2.2% during the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after buying an additional 6,067 shares during the period. Harbor Capital Advisors Inc. raised its stake in Popular by 249.1% in the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after buying an additional 23,436 shares in the last quarter. Algert Global LLC lifted its holdings in Popular by 10.4% in the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after buying an additional 8,317 shares during the period. Finally, LSV Asset Management lifted its holdings in Popular by 1.4% in the first quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock worth $62,402,000 after buying an additional 9,985 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Performance

NASDAQ BPOP opened at $100.57 on Friday. Popular, Inc. has a one year low of $59.27 and a one year high of $105.01. The stock has a 50-day moving average of $98.00 and a 200 day moving average of $92.31. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.66 and a beta of 0.78.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.38. Popular had a net margin of 12.20% and a return on equity of 11.73%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. During the same quarter in the prior year, the firm earned $2.10 earnings per share. On average, equities analysts predict that Popular, Inc. will post 8.74 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 34.93%.

Wall Street Analyst Weigh In

Several research firms recently commented on BPOP. Hovde Group boosted their price objective on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price target (up previously from $110.00) on shares of Popular in a research note on Thursday, July 25th. Wells Fargo & Company lowered Popular from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $115.00 to $105.00 in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their target price on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays raised their price target on Popular from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.38.

Insider Buying and Selling at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 29,922 shares of the company’s stock, valued at $2,920,387.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by corporate insiders.

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.