Deutsche Bank AG Decreases Position in Popular, Inc. (NASDAQ:BPOP)

Deutsche Bank AG trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 70.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,868 shares of the bank's stock after selling 247,620 shares during the quarter. Deutsche Bank AG owned 0.15% of Popular worth $9,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock valued at $211,000 after buying an additional 112 shares in the last quarter. Picton Mahoney Asset Management raised its position in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Arizona State Retirement System raised its position in shares of Popular by 0.7% during the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after acquiring an additional 143 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Popular by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock worth $2,949,000 after acquiring an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Popular by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock worth $2,888,000 after acquiring an additional 214 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Price Performance

Shares of BPOP stock traded down $0.14 during midday trading on Tuesday, hitting $105.15. The company had a trading volume of 861,550 shares, compared to its average volume of 501,549. The company's 50 day simple moving average is $92.32 and its 200 day simple moving average is $95.86. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $107.00. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.75 and a beta of 0.60.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same period last year, the business posted $1.43 EPS. The company's revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.66%. Popular's dividend payout ratio (DPR) is currently 28.90%.

Insider Buying and Selling at Popular

In related news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president now directly owns 3,604 shares in the company, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BPOP shares. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Barclays reissued an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. StockNews.com lowered Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price target on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Hovde Group cut their price target on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.43.

Popular Company 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.