Hsbc Holdings PLC Acquires 13,715 Shares of Popular, Inc. (NASDAQ:BPOP)

Hsbc Holdings PLC increased its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 167.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,887 shares of the bank's stock after buying an additional 13,715 shares during the period. Hsbc Holdings PLC's holdings in Popular were worth $2,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc lifted its position in shares of Popular by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management raised 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 purchasing an additional 118 shares in the last quarter. Arizona State Retirement System lifted its position in Popular by 0.7% in the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after purchasing an additional 143 shares during the period. Treasurer of the State of North Carolina boosted its stake in Popular by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock worth $2,949,000 after buying an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Popular by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock valued at $2,888,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 87.27% of the company's stock.

Analyst Upgrades and Downgrades

BPOP has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Hovde Group lowered their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, StockNews.com lowered Popular from a "buy" rating to a "hold" rating in a research note on Friday. Two equities 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.14.

Insider Buying and Selling

In other news, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.09% of the stock is currently owned by corporate insiders.

Popular Stock Performance

Popular stock traded down $0.09 on Tuesday, reaching $99.40. The company's stock had a trading volume of 52,000 shares, compared to its average volume of 488,929. The business's fifty day moving average price is $90.57 and its 200 day moving average price is $95.08. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $760.45 million. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The business also recently disclosed 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 2.82%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular's dividend payout ratio (DPR) is presently 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.