BNP Paribas Financial Markets Sells 5,308 Shares of Popular, Inc. (NASDAQ:BPOP)

BNP Paribas Financial Markets trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,388 shares of the bank's stock after selling 5,308 shares during the quarter. BNP Paribas Financial Markets' holdings in Popular were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BPOP. Vanguard Group Inc. grew its position in Popular by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock worth $873,519,000 after acquiring an additional 56,222 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Popular by 5.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock worth $394,373,000 after purchasing an additional 201,067 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Popular by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock valued at $179,505,000 after buying an additional 25,222 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Popular by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock valued at $133,446,000 after buying an additional 515,798 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Popular by 3.0% in the fourth quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock valued at $128,192,000 after buying an additional 39,999 shares during the last quarter. 87.27% of the stock is owned by institutional investors.

Insider Activity at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular 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 transaction, the vice president now directly owns 3,604 shares in the company, valued at approximately $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.09% of the company's stock.

Popular Price Performance

Shares of BPOP stock traded down $2.41 during trading hours on Wednesday, reaching $102.74. The company had a trading volume of 519,320 shares, compared to its average volume of 502,338. Popular, Inc. has a 1-year low of $78.23 and a 1-year high of $106.81. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 0.75 and a beta of 0.60. The company has a 50 day moving average of $92.67 and a 200 day moving average of $95.92.

Popular (NASDAQ:BPOP - Get Free Report) last released 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 firm had revenue of $755.46 million for the quarter, compared to analyst estimates of $760.45 million. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's dividend payout ratio is currently 28.90%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BPOP shares. Piper Sandler raised their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods raised their price target on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Barclays reissued an "overweight" rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.43.

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.