Bank of America Corp DE decreased its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 264,538 shares of the bank's stock after selling 128,556 shares during the quarter. Bank of America Corp DE owned 0.37% of Popular worth $24,882,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Popular during the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management grew its position in 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 acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC raised its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares in the last quarter. R Squared Ltd bought a new position in shares of Popular during the fourth quarter valued at $166,000. Finally, Yousif Capital Management LLC acquired a new stake in shares of Popular in the 4th quarter valued at $202,000. 87.27% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, 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 now owns 3,604 shares in the company, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.09% of the company's stock.
Analysts Set New Price Targets
BPOP has been the topic of a number of recent analyst reports. Hovde Group reduced their price target on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $110.00 to $100.00 in a research report on Wednesday, April 9th. Barclays restated an "overweight" rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Piper Sandler increased their price objective on shares of Popular from $110.00 to $123.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $114.43.
Check Out Our Latest Research Report on BPOP
Popular Stock Down 2.3%
Shares of NASDAQ:BPOP traded down $2.41 during midday trading on Wednesday, hitting $102.74. The stock had a trading volume of 519,320 shares, compared to its average volume of 503,509. The business's 50-day simple moving average is $92.67 and its 200-day simple moving average is $95.92. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $106.81. The company has a market cap of $7.04 billion, a P/E ratio of 12.00, a PEG ratio of 0.75 and a beta of 0.60.
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, topping analysts' consensus estimates of $2.26 by $0.30. The firm had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's dividend payout ratio is currently 28.90%.
Popular Company Profile
(
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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