Popular, Inc. (NASDAQ:BPOP) is Minneapolis Portfolio Management Group LLC's 4th Largest Position

Minneapolis Portfolio Management Group LLC reduced its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,481 shares of the bank's stock after selling 6,786 shares during the quarter. Popular accounts for about 4.9% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 4th largest holding. Minneapolis Portfolio Management Group LLC owned approximately 0.55% of Popular worth $35,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Arizona State Retirement System boosted its position in Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after buying an additional 143 shares during the period. Treasurer of the State of North Carolina boosted its position in 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 valued at $2,949,000 after buying an additional 190 shares during the period. QRG Capital Management Inc. boosted its position in Popular by 4.7% during the first quarter. QRG Capital Management Inc. now owns 4,309 shares of the bank's stock valued at $398,000 after buying an additional 195 shares during the period. Finally, Perkins Coie Trust Co boosted its holdings in Popular by 6.7% during the 1st quarter. Perkins Coie Trust Co now owns 3,200 shares of the bank's stock valued at $296,000 after acquiring an additional 200 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Stock Performance

BPOP stock traded up $0.98 on Tuesday, reaching $114.44. The company's stock had a trading volume of 595,285 shares, compared to its average volume of 537,934. The business has a fifty day simple moving average of $104.72 and a two-hundred day simple moving average of $98.23. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $115.96. The firm has a market cap of $7.84 billion, a PE ratio of 11.81, a PEG ratio of 0.68 and a beta of 0.63.

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

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th were issued a $0.70 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.45%. Popular's dividend payout ratio (DPR) is presently 28.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BPOP shares. Royal Bank Of Canada restated an "outperform" rating on shares of Popular in a report on Monday, June 30th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Wall Street Zen lowered Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Piper Sandler increased their price target 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $118.29.

Insider Activity

In other news, 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 transaction, the executive vice president owned 27,382 shares in the company, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president owned 3,604 shares of the company's stock, valued at approximately $376,365.72. The trade was a 12.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.23% of the company's stock.

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.