In the third quarter, Franklin Resources Inc. significantly increased its investment in Popular, Inc., raising its stake by 304.3%. This move has positioned Franklin as a major shareholder, with ownership of 99,861 shares valued at approximately $10.04 million after acquiring an additional 75,164 shares.
Other institutional players such as Tidal Investments LLC, Wilmington Savings Fund Society FSB, TCW Group Inc., and Barclays PLC have also made their mark on Popular's shareholder landscape.
The stock of Popular, traded under the NASDAQ symbol BPOP, has garnered attention from various analysts, with UBS Group recently initiating coverage and assigning a "neutral" rating. Currently, Popular holds a "Moderate Buy" consensus rating among analysts, with an average target price set at $106.
The stock has experienced fluctuations, recently trading down 1.1% to $94.73, with a market capitalization of $6.75 billion. In its latest quarterly earnings report, Popular announced earnings per share (EPS) of $2.16, falling short of analysts' expectations of $2.33 by $0.17. Despite this miss, the bank reported a year-over-year revenue increase of 6.2%, totaling $736.56 million. Looking ahead, analysts project that Popular will post an EPS of 8.46 for the current year.
Recent insider trading activity has also drawn attention, with Vice President Adorno Denissa Rodriguez and Executive Vice President Beatriz Castellvi selling shares. Company insiders currently hold about 2.09% of the stock.
As Popular navigates the complexities of the financial landscape, the strategic moves by institutional investors and the reactions from analysts will play a crucial role in shaping its future.