Mercer Global Advisors Inc. ADV Has $293,000 Stake in Popular, Inc. (NASDAQ:BPOP)

Mercer Global Advisors Inc. ADV decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,119 shares of the bank’s stock after selling 878 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Popular were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Popular by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank’s stock valued at $873,519,000 after acquiring an additional 56,222 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Popular by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank’s stock valued at $394,373,000 after acquiring an additional 201,067 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Popular by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank’s stock valued at $179,505,000 after acquiring an additional 25,222 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Popular by 57.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank’s stock valued at $133,446,000 after acquiring an additional 515,798 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Popular by 3.0% during the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank’s stock valued at $128,192,000 after acquiring an additional 39,999 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Hovde Group cut their price objective on Popular from $118.00 to $114.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised Popular from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods raised their target price on Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Piper Sandler raised their target price on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.43.

Popular Price Performance

Shares of Popular stock opened at $104.79 on Friday. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.75 and a beta of 0.60. The business has a 50-day simple moving average of $91.62 and a 200 day simple moving average of $95.56.

Popular (NASDAQ:BPOP) last issued its earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. During the same period in the previous year, the company posted $1.43 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s payout ratio is 28.90%.

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.