Harbor Capital Advisors Inc. boosted its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 26.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,599 shares of the bank's stock after purchasing an additional 19,876 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.14% of Popular worth $8,738,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. Vanguard Group Inc. raised its holdings in Popular by 0.6% in 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 period. Price T Rowe Associates Inc. MD lifted its position in shares of Popular by 5.0% during 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 during the last quarter. Wellington Management Group LLP lifted its position in shares of Popular by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock worth $179,505,000 after purchasing an additional 25,222 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Popular by 57.1% in the 4th 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 during the last quarter. Finally, American Century Companies Inc. grew its holdings in Popular by 3.0% in the 4th 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. Institutional investors and hedge funds own 87.27% of the company's stock.
Insider Buying and Selling at Popular
In other news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the sale, the vice president now owns 3,604 shares in the company, valued at approximately $376,365.72. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Camille Burckhart sold 7,000 shares of Popular 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 completion of the transaction, the executive vice president now directly owns 27,382 shares of the company's stock, valued at $2,851,561.48. This represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.
Popular Price Performance
Shares of Popular stock traded down $0.77 during midday trading on Friday, hitting $104.74. 82,826 shares of the company were exchanged, compared to its average volume of 520,033. The firm has a 50 day simple moving average of $97.47 and a 200-day simple moving average of $96.85. The firm has a market cap of $7.18 billion, a P/E ratio of 12.24, a PEG ratio of 0.75 and a beta of 0.62. Popular, Inc. has a 52 week low of $78.23 and a 52 week high of $107.31.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The company had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. During the same period last year, the business earned $1.43 earnings per share. The business's revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be given a $0.70 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Popular's dividend payout ratio (DPR) is presently 28.90%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on BPOP shares. Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Wall Street Zen downgraded Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Hovde Group decreased their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Barclays restated 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.43.
Check Out Our Latest Research Report on BPOP
Popular Profile
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Free Report)
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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