The Vanguard Group, Inc. has recently announced that it has increased stake in Popular Inc. (NASDAQ:BPOP) by 8.00%. After grabbing 8.39 million shares, the institutional investor is now in possession of 0.62 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.68% having worth around $599.27 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.14 million to have a control over 4.05 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 0.28 million shares by acquiring 3.6 million shares or 5.00% of the stake.
Popular Inc. (BPOP) concluded trading on 03/15/23 at a closing price of $51.72, with 1.89 million shares of worth about $97.61 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -34.83% during that period and on Wednesday the price saw a loss of about -3.18%. Currently the company’s common shares owned by public are about 72.07M shares, out of which, 71.51M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 6,977 shares in 23 of the transactions. In 12 selling transactions, insiders dumped 46,418 shares.
Vanguard Total Stock Market Index, T Rowe Price Mid Cap Value Fund, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Popular Inc. Vanguard Total Stock Market Index is currently holding 2.23 million shares of worth totaling $158.99 million. The company recently came buying 22959.0 shares which brought its stake up to 3.10% of the company’s outstanding shares. T Rowe Price Mid Cap Value Fund bought 0.26 million shares, after which its hold over company’s outstanding shares expand to 2.74%, leaving 1.97 million shares with the mutual fund that have a worth of about $140.63 million. Vanguard Small Cap Index Fund, after buying 1.88 million shares, have now control over 2.62% of the stake in the company. It holds 10318.0 shares of worth $134.47 million.
Popular Inc. (NASDAQ: BPOP) started trading at $51.00, below -$2.42 from concluding price of the previous day. However, the stock later moved at a day high price of 52.56, or with a loss of -3.18%. Stock saw a price change of -22.18% in past 5 days and over the past one month there was a price change of -26.66%. Year-to-date (YTD), BPOP shares are showing a performance of -22.01% which decreased to -35.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $51.77 but also hit the highest price of $86.84 during that period. The average intraday trading volume for Popular Inc. shares is 587.16K. The stock is currently trading -23.81% below its 20-day simple moving average (SMA20), while that difference is down -24.08% for SMA50 and it goes to -29.16% lower than SMA200.
The Vanguard Group, Inc. acquired 8.39 million shares of Popular Inc. having value of about $599.27 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.62 million shares in the company valued at close to $32156806.56, or have control over 8.00% stake in the company. Popular Inc. (NASDAQ: BPOP) currently have 72.07M outstanding shares and institutions hold larger chunk of about 89.10% of that. Holding of mutual funds in the company is about 33.60% while other institutional holders and individual stake holders have control over 53.29% and 3.86% of the stake respectively.
The stock has a current market capitalization of $3.78B and its 3Y-monthly beta is at 0.89. PE ratio of stock for trailing 12 months is 3.52, while it has posted earnings per share of $14.71 in the same period. Its PEG reads 0.70 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BPOP, volatility over the week remained 9.51% while standing at 3.96% over the month.
Analysts are in expectations that Popular Inc. (BPOP) stock would likely to be making an EPS of $2.01 in the current quarter, while forecast for next quarter EPS is $2.13 and it is $9.84 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.87 which is $2.18 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.69 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 27.60% while it is estimated to increase by 11.56% in next year. EPS is likely to shrink at an annualized rate of 5.00% for next 5-years, compared to annual growth of 40.50% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on March 15, 2023 offering a Neutral rating for the stock and assigned a target price range of between $100 and $57 to it. Coverage by Keefe Bruyette stated Popular Inc. (BPOP) stock as a Mkt perform in their note to investors on January 26, 2023, suggesting a price target of $74 for the stock. On April 12, 2022, Keefe Bruyette Resumed their recommendations, while on December 20, 2021, Hovde Group Initiated their ratings for the stock with a price target of $107. Stock get an Overweight rating from Wells Fargo on November 09, 2021.
