Allspring Global Investments Holdings LLC Sells 5,884 Shares of Popular, Inc. (NASDAQ:BPOP)

Allspring Global Investments Holdings LLC decreased its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 27.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,749 shares of the bank's stock after selling 5,884 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Popular were worth $1,435,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BPOP. Proficio Capital Partners LLC purchased a new stake in Popular during the 4th quarter worth about $27,000. Smartleaf Asset Management LLC lifted its holdings in Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after purchasing an additional 218 shares in the last quarter. Arizona State Retirement System lifted its holdings in 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 purchasing an additional 143 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Popular during the 4th quarter worth about $3,034,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Popular by 24.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,636 shares of the bank's stock worth $1,847,000 after purchasing an additional 3,804 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BPOP shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a report on Monday, June 30th. UBS Group reaffirmed a "neutral" rating on shares of Popular in a report on Wednesday. Barclays raised their price target on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.29.

Popular Stock Down 0.3%

Shares of Popular stock traded down $0.35 during trading on Friday, hitting $113.41. 362,220 shares of the stock traded hands, compared to its average volume of 537,336. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.68 and a beta of 0.63. The firm's fifty day moving average is $106.06 and its 200-day moving average is $98.71. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $115.96.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The firm had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. Popular had a return on equity of 12.22% and a net margin of 15.82%. The company's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, May 29th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.47%. Popular's payout ratio is 28.90%.

Insider Activity at Popular

In other news, EVP Camille Burckhart sold 7,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total transaction of $728,980.00. Following the completion of the transaction, the executive vice president directly owned 27,382 shares of the company's stock, valued at approximately $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the sale, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. This represents a 12.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

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.