Popular, Inc. $BPOP Shares Sold by Deutsche Bank AG

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Deutsche Bank AG cut its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 67.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,530 shares of the bank's stock after selling 70,338 shares during the period. Deutsche Bank AG's holdings in Popular were worth $3,190,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in Popular by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 87,106 shares of the bank's stock valued at $8,046,000 after acquiring an additional 8,262 shares in the last quarter. Cerity Partners LLC raised its holdings in Popular by 164.7% in the first quarter. Cerity Partners LLC now owns 15,731 shares of the bank's stock valued at $1,453,000 after acquiring an additional 9,788 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Popular by 50.0% in the first quarter. Janney Montgomery Scott LLC now owns 14,449 shares of the bank's stock valued at $1,335,000 after acquiring an additional 4,818 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Popular by 105.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,256 shares of the bank's stock valued at $1,132,000 after acquiring an additional 6,281 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Popular by 4.7% in the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after acquiring an additional 195 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Trading Up 2.5%

NASDAQ BPOP traded up $2.94 during trading hours on Friday, reaching $121.94. The company's stock had a trading volume of 792,762 shares, compared to its average volume of 397,277. The business has a 50-day simple moving average of $113.48 and a 200 day simple moving average of $102.44. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $123.15. The stock has a market cap of $8.24 billion, a PE ratio of 11.82, a PEG ratio of 0.63 and a beta of 0.65.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The business had revenue of $800.03 million for the quarter, compared to analysts' expectations of $777.38 million. During the same quarter last year, the company earned $2.46 EPS. As a group, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Popular's previous quarterly dividend of $0.70. Popular's dividend payout ratio (DPR) is 27.13%.

Insider Buying and Selling at Popular

In related news, EVP Camille Burckhart sold 7,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total value of $728,980.00. Following the sale, the executive vice president owned 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BPOP. Barclays upped their price target on shares of Popular from $125.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on shares of Popular from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. UBS Group reissued a "neutral" rating on shares of Popular in a report on Wednesday, July 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a research report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of Popular from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and an average price target of $128.88.

Popular 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.