Boston Partners Grows Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Boston Partners lifted its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 100.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,475 shares of the bank's stock after buying an additional 14,275 shares during the period. Boston Partners' holdings in Popular were worth $2,337,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Popular in the fourth quarter valued at approximately $44,000. Principal Securities Inc. bought a new stake in Popular during the 4th quarter valued at $83,000. Assetmark Inc. boosted its position in Popular by 55.4% during the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank's stock valued at $89,000 after buying an additional 506 shares during the period. GAMMA Investing LLC bought a new stake in Popular in the 4th quarter worth $90,000. Finally, NBC Securities Inc. purchased a new position in shares of Popular in the third quarter valued at about $202,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Manuel Chinea sold 12,000 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the sale, the executive vice president now owns 27,086 shares of the company's stock, valued at $2,456,700.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Manuel Chinea sold 12,000 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $90.70, for a total value of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares of the company's stock, valued at $2,456,700.20. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Popular from $103.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, March 13th. Wells Fargo & Company boosted their target price on Popular from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $110.00 price target (up previously from $103.00) on shares of Popular in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price target on shares of Popular from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, January 26th. Finally, Piper Sandler upped their price objective on shares of Popular from $96.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Popular currently has an average rating of "Moderate Buy" and an average target price of $99.89.

Popular Price Performance

Shares of NASDAQ:BPOP traded down $0.73 during trading on Friday, hitting $91.84. The company's stock had a trading volume of 286,205 shares, compared to its average volume of 312,863. The company has a 50-day moving average of $86.34 and a 200-day moving average of $81.80. Popular, Inc. has a 12 month low of $56.01 and a 12 month high of $93.09. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.88 and a beta of 0.81.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.87 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.09). Popular had a net margin of 11.95% and a return on equity of 11.67%. The company had revenue of $714.56 million for the quarter, compared to the consensus estimate of $706.00 million. As a group, research analysts anticipate that Popular, Inc. will post 8.31 earnings per share for the current year.

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 30th. Popular's dividend payout ratio is presently 36.80%.

Popular Company 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.