Popular, Inc. (NASDAQ:BPOP) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,988 shares of the bank's stock after selling 93,287 shares during the period. Millennium Management LLC owned 0.23% of Popular worth $15,237,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Invenomic Capital Management LP bought a new position in shares of Popular in the fourth quarter worth approximately $6,740,000. Jacobs Asset Management LLC raised its holdings in shares of Popular by 44.7% during the fourth quarter. Jacobs Asset Management LLC now owns 137,500 shares of the bank's stock valued at $12,933,000 after purchasing an additional 42,500 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Popular by 32.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 723,384 shares of the bank's stock valued at $68,041,000 after purchasing an additional 175,327 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Popular by 38.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 40,316 shares of the bank's stock valued at $3,792,000 after purchasing an additional 11,230 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of Popular by 2.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 988,777 shares of the bank's stock valued at $93,004,000 after purchasing an additional 23,214 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the transaction, the vice president now directly owns 3,604 shares of the company's stock, valued at $376,365.72. The trade was 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 the SEC website. Insiders own 2.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $110.00 to $100.00 in a report on Wednesday, April 9th. Keefe, Bruyette & Woods increased their price objective 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. Barclays reiterated an "overweight" rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.43.

Popular Stock Performance

BPOP stock traded down $0.95 during midday trading on Wednesday, reaching $103.44. The stock had a trading volume of 54,412 shares, compared to its average volume of 505,289. The stock has a market cap of $7.09 billion, a PE ratio of 12.11, a P/E/G ratio of 0.75 and a beta of 0.60. The firm has a fifty day simple moving average of $93.94 and a two-hundred day simple moving average of $96.24. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. The business had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, May 29th. Popular's dividend payout ratio (DPR) is presently 28.90%.

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.