Burney Co. Sells 5,461 Shares of Popular, Inc. (NASDAQ:BPOP)

Burney Co. cut its position in shares of Popular, Inc. (NASDAQ:BPOP) by 16.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,467 shares of the bank’s stock after selling 5,461 shares during the quarter. Burney Co.’s holdings in Popular were worth $2,420,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Popular during the first quarter worth about $42,000. Principal Securities Inc. bought a new position in shares of Popular during the fourth quarter worth about $83,000. GAMMA Investing LLC bought a new position in shares of Popular during the fourth quarter worth about $90,000. Clear Street Markets LLC bought a new position in shares of Popular during the fourth quarter worth about $139,000. Finally, CWM LLC grew its holdings in shares of Popular by 164.8% during the first quarter. CWM LLC now owns 1,769 shares of the bank’s stock worth $156,000 after buying an additional 1,101 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler increased their price target on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Barclays increased their price target on Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Hovde Group raised their price objective on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Popular currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.22.

Popular Stock Down 3.4 %

Shares of BPOP traded down $3.34 during midday trading on Friday, hitting $95.27. The company’s stock had a trading volume of 390,318 shares, compared to its average volume of 434,669. Popular, Inc. has a one year low of $59.27 and a one year high of $105.01. The company’s fifty day simple moving average is $91.04 and its two-hundred day simple moving average is $87.48. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 0.67 and a beta of 0.79.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 12.00% and a net margin of 12.20%. During the same quarter in the previous year, the company posted $2.10 EPS. On average, research analysts predict that Popular, Inc. will post 8.76 earnings per share for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, May 30th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.60%. The ex-dividend date was Thursday, May 30th. Popular’s payout ratio is presently 36.80%.

Insiders Place Their Bets

In other Popular news, EVP Gilberto Monzon sold 5,000 shares of Popular stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total transaction of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gilberto Monzon sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $85.80, for a total value of $429,000.00. Following the transaction, the executive vice president now directly owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Chinea sold 12,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $90.70, for a total value of $1,088,400.00. Following the completion of the transaction, the executive vice president now directly owns 27,086 shares in the company, valued at $2,456,700.20. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Popular 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.