Emerald Mutual Fund Advisers Trust Sells 93,455 Shares of Popular, Inc. (NASDAQ:BPOP)

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 69.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,972 shares of the bank’s stock after selling 93,455 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.06% of Popular worth $3,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wedmont Private Capital raised its holdings in shares of Popular by 6.7% during the first quarter. Wedmont Private Capital now owns 2,729 shares of the bank’s stock valued at $237,000 after acquiring an additional 171 shares in the last quarter. GAMMA Investing LLC increased its position in Popular by 16.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,259 shares of the bank’s stock valued at $111,000 after purchasing an additional 181 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Popular by 7.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,040 shares of the bank’s stock worth $268,000 after purchasing an additional 208 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Popular by 11.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 3,031 shares of the bank’s stock worth $268,000 after purchasing an additional 322 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Popular by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 20,227 shares of the bank’s stock valued at $1,789,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Insider Activity at Popular

In other news, EVP Camille Burckhart sold 5,917 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.09% of the stock is owned by insiders.

Popular Trading Down 1.9 %

Popular stock opened at $96.78 on Friday. Popular, Inc. has a 12 month low of $59.27 and a 12 month high of $105.01. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. The business’s fifty day simple moving average is $96.86 and its two-hundred day simple moving average is $89.86.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.08 by $0.38. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. Popular had a net margin of 12.20% and a return on equity of 11.73%. During the same period in the prior year, the firm posted $2.10 EPS. On average, equities research analysts predict that Popular, Inc. will post 8.86 EPS for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, September 13th. Popular’s dividend payout ratio is currently 36.80%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler initiated coverage on shares of Popular in a research note on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target for the company. Royal Bank of Canada increased their target price on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays lifted 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 increased their price objective on Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, 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 report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.