Boston Partners Sells 7,503 Shares of Popular, Inc. $BPOP

Boston Partners cut its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,970 shares of the bank's stock after selling 7,503 shares during the quarter. Boston Partners' holdings in Popular were worth $644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. First Trust Advisors LP raised its position in Popular by 53.8% in the fourth quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock worth $123,496,000 after acquiring an additional 459,231 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Popular by 5.0% in the 4th 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Popular by 32.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock worth $68,041,000 after purchasing an additional 175,327 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Popular in the 4th quarter worth about $11,305,000. Finally, Point72 Asset Management L.P. increased its stake in Popular by 140.8% in the 4th quarter. Point72 Asset Management L.P. now owns 201,331 shares of the bank's stock worth $18,937,000 after purchasing an additional 117,705 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BPOP shares. Hovde Group lifted their price target on Popular from $126.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of Popular in a research note on Thursday, July 24th. UBS Group reissued a "neutral" rating on shares of Popular in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on Popular from $125.00 to $132.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Citigroup lifted their price target on Popular from $133.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Popular has a consensus rating of "Moderate Buy" and an average price target of $128.88.

Popular Stock Performance

Shares of NASDAQ BPOP traded up $3.0460 during trading hours on Friday, hitting $122.0460. The stock had a trading volume of 435,721 shares, compared to its average volume of 558,488. The company has a market capitalization of $8.25 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.62 and a beta of 0.65. The firm's 50-day moving average price is $113.11 and its two-hundred day moving average price is $102.30. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $123.15.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.49. Popular had a return on equity of 12.48% and a net margin of 16.49%.The firm had revenue of $800.03 million during the quarter, compared to analyst estimates of $777.38 million. During the same period in the previous year, the company earned $2.46 EPS. As a group, analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Insider Activity at Popular

In other news, EVP Camille Burckhart sold 7,000 shares of the business'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 transaction of $728,980.00. Following the sale, the executive vice president directly owned 27,382 shares in the company, valued at approximately $2,851,561.48. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.09% of the stock is currently owned by company insiders.

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.