Popular, Inc. (NASDAQ:BPOP) Stock Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 681,055 shares of the bank's stock after selling 16,334 shares during the period. Bank of New York Mellon Corp owned about 0.98% of Popular worth $62,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its stake in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after acquiring an additional 118 shares during the period. Treasurer of the State of North Carolina raised its holdings 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. QRG Capital Management Inc. raised its holdings in shares of Popular by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock worth $398,000 after acquiring an additional 195 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of Popular by 6.7% during the 1st quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock worth $296,000 after acquiring an additional 200 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Popular by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock valued at $1,246,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 87.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group restated a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Monday, June 30th. Barclays increased their price objective on Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods boosted 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.29.

Insider Buying and Selling

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president owned 3,604 shares of the company's stock, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the sale, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. This trade represents a 20.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.23% of the company's stock.

Popular Stock Performance

Shares of BPOP stock traded down $4.23 during trading hours on Tuesday, reaching $111.27. The company had a trading volume of 270,240 shares, compared to its average volume of 537,810. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $115.96. The stock's fifty day simple moving average is $106.06 and its 200 day simple moving average is $98.76. The company has a market capitalization of $7.62 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63.

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

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, May 29th. Popular's dividend payout ratio is presently 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.