Popular, Inc. (NASDAQ:BPOP) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 85,809 shares of the bank's stock after selling 18,278 shares during the period. Perpetual Ltd owned about 0.12% of Popular worth $7,926,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BPOP. Proficio Capital Partners LLC purchased a new stake in Popular in the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management grew its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 118 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares during the period. Versant Capital Management Inc lifted its stake in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after acquiring an additional 702 shares in the last quarter. Finally, Crestline Management LP purchased a new position in Popular during the 4th quarter valued at about $215,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Stock Performance

Shares of BPOP stock opened at $110.51 on Friday. The stock has a market cap of $7.57 billion, a PE ratio of 11.40, a P/E/G ratio of 0.65 and a beta of 0.62. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $111.19. The stock has a fifty day moving average price of $101.83 and a 200 day moving average price of $97.29.

Popular (NASDAQ:BPOP - Get Free Report) last issued 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. Popular had a net margin of 15.82% and a return on equity of 12.22%. The business 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 revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.53%. Popular's payout ratio is currently 28.90%.

Insiders Place Their Bets

In related news, VP Adorno Denissa Rodriguez sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total transaction of $52,215.00. Following the completion of the sale, the vice president now owns 3,604 shares of the company's stock, valued at approximately $376,365.72. This represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Camille Burckhart sold 7,000 shares of the business'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 transaction of $728,980.00. Following the sale, the executive vice president now owns 27,382 shares of the company's stock, valued at approximately $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. Corporate insiders own 2.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Wall Street Zen downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Piper Sandler raised 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. 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 research note on Thursday, April 24th. Finally, Barclays reiterated an "overweight" rating and issued a $125.00 target price (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.14.

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.

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