Popular, Inc. (NASDAQ:BPOP) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lowered its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,114 shares of the bank's stock after selling 80,118 shares during the quarter. Penn Capital Management Company LLC owned 0.18% of Popular worth $12,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Popular by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock worth $394,373,000 after acquiring an additional 201,067 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Popular by 69.7% in the fourth quarter. Dark Forest Capital Management LP now owns 11,324 shares of the bank's stock worth $1,065,000 after buying an additional 4,652 shares during the period. Hsbc Holdings PLC grew its stake in shares of Popular by 167.8% in the fourth quarter. Hsbc Holdings PLC now owns 21,887 shares of the bank's stock valued at $2,058,000 after buying an additional 13,715 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Popular by 53.8% during the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after buying an additional 459,231 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in Popular by 20.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 24,477 shares of the bank's stock worth $2,301,000 after acquiring an additional 4,229 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company's stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BPOP. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Hovde Group cut their price objective on shares of Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Barclays reiterated an "overweight" rating and issued a $125.00 price target (up previously from $115.00) on shares of Popular in a research note on Thursday, April 24th. StockNews.com lowered Popular from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.14.

Popular Price Performance

NASDAQ:BPOP traded up $0.70 during midday trading on Tuesday, reaching $96.80. 150,929 shares of the company traded hands, compared to its average volume of 486,556. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81. The company has a fifty day moving average price of $90.92 and a 200 day moving average price of $95.21. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last released 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 14.15% and a return on equity of 11.89%. The business had revenue of $755.46 million for the quarter, compared to analysts' expectations of $760.45 million. During the same quarter last year, the company earned $1.43 EPS. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.89%. The ex-dividend date was Tuesday, March 18th. Popular's dividend payout ratio is currently 28.90%.

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.