Millennium Management LLC Sells 93,287 Shares of Popular, Inc. (NASDAQ:BPOP)

Millennium Management LLC decreased its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,988 shares of the bank's stock after selling 93,287 shares during the period. Millennium Management LLC owned about 0.23% of Popular worth $15,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. Barclays PLC grew its position in shares of Popular by 8.5% during the 3rd quarter. Barclays PLC now owns 60,099 shares of the bank's stock worth $6,024,000 after purchasing an additional 4,699 shares in the last quarter. SG Americas Securities LLC increased its stake in Popular by 20.6% in the 4th quarter. SG Americas Securities LLC now owns 23,674 shares of the bank's stock valued at $2,227,000 after buying an additional 4,044 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Popular by 3.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,631 shares of the bank's stock worth $906,000 after purchasing an additional 349 shares during the period. KBC Group NV boosted its holdings in Popular by 1,719.6% in the 4th quarter. KBC Group NV now owns 37,775 shares of the bank's stock worth $3,553,000 after buying an additional 35,699 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Popular during the 4th quarter worth $166,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 0.3%

Popular stock traded up $0.34 during trading hours on Friday, reaching $102.50. 340,921 shares of the company's stock were exchanged, compared to its average volume of 507,066. The firm has a market capitalization of $7.02 billion, a PE ratio of 11.97, a PEG ratio of 0.75 and a beta of 0.60. The firm's 50 day simple moving average is $93.42 and its 200 day simple moving average is $96.12. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 EPS. Analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.73%. Popular's payout ratio is 28.90%.

Insiders Place Their Bets

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.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Popular from $110.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and set a $125.00 price target (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Finally, Wells Fargo & Company upgraded 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Popular currently has an average rating of "Moderate Buy" and an average target price of $114.43.

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.