Emerald Advisers LLC Sells 2,809 Shares of Popular, Inc. (NASDAQ:BPOP)

Emerald Advisers LLC lessened its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 86.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 425 shares of the bank's stock after selling 2,809 shares during the period. Emerald Advisers LLC's holdings in Popular were worth $39,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management increased its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Popular by 0.6% during the fourth 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. increased its position in shares of Popular by 4.7% during the first 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 increased its position in shares of Popular by 6.7% during the first 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 fourth quarter. Corient Private Wealth LLC now owns 13,247 shares of the bank's stock worth $1,246,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 87.27% of the company's stock.

Insiders Place Their Bets

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the firm's stock in a transaction 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 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. 2.23% of the stock is owned by corporate insiders.

Popular Stock Up 1.8%

BPOP opened at $115.50 on Tuesday. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.68 and a beta of 0.63. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $115.96. The company's 50-day moving average price is $106.06 and its two-hundred day moving average price is $98.76.

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

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, May 29th. Popular's payout ratio is 28.90%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group reissued a "neutral" rating on shares of Popular in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Barclays boosted their price target on shares of Popular from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Popular in a research note on Monday, June 30th. Two investment 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 presently has a consensus rating of "Moderate Buy" and an average target price of $123.29.

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.

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