New York State Common Retirement Fund lessened its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 491,416 shares of the bank's stock after selling 33,218 shares during the quarter. New York State Common Retirement Fund owned approximately 0.68% of Popular worth $40,331,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in shares of Popular by 9.1% in the third quarter. AE Wealth Management LLC now owns 19,863 shares of the bank's stock valued at $1,252,000 after purchasing an additional 1,662 shares during the period. Ritholtz Wealth Management bought a new position in shares of Popular in the third quarter valued at approximately $331,000. Raymond James & Associates raised its position in shares of Popular by 11.3% in the third quarter. Raymond James & Associates now owns 29,986 shares of the bank's stock valued at $1,889,000 after purchasing an additional 3,042 shares during the period. Bailard Inc. raised its position in shares of Popular by 93.6% in the third quarter. Bailard Inc. now owns 9,100 shares of the bank's stock valued at $573,000 after purchasing an additional 4,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Popular by 25.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank's stock valued at $879,000 after purchasing an additional 2,795 shares during the period. Institutional investors own 87.27% of the company's stock.
Popular Stock Performance
Shares of NASDAQ BPOP traded down $0.43 during midday trading on Thursday, reaching $87.93. 218,003 shares of the company traded hands, compared to its average volume of 449,720. The firm has a market cap of $6.36 billion, a PE ratio of 12.91 and a beta of 0.82. The stock's 50-day simple moving average is $84.55 and its 200-day simple moving average is $78.83. Popular, Inc. has a 12 month low of $52.32 and a 12 month high of $89.70.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.89. The company had revenue of $702.92 million during the quarter, compared to analysts' expectations of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. On average, equities research analysts expect that Popular, Inc. will post 8.52 EPS for the current year.
Popular Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.82%. Popular's payout ratio is presently 36.80%.
Insider Buying and Selling at Popular
In related news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares of the company's stock, valued at $2,260,092.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Luis E. Cestero sold 4,641 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Luis E. Cestero sold 599 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now owns 26,529 shares of the company's stock, valued at $2,272,208.85. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.
Wall Street Analyst Weigh In
BPOP has been the topic of several research analyst reports. Barclays raised their price objective on shares of Popular from $99.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank of Canada raised their price objective on shares of Popular from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. StockNews.com upgraded shares of Popular from a "sell" rating to a "hold" rating in a research note on Wednesday, April 3rd. Wells Fargo & Company raised their price objective on shares of Popular from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $110.00 price target (up previously from $103.00) on shares of Popular in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.89.
Get Our Latest Research Report on BPOP
Popular 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.
Further Reading
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