Basswood Capital Management L.L.C. Sells 97,103 Shares of Popular, Inc. (NASDAQ:BPOP)

Basswood Capital Management L.L.C. trimmed its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 39.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,377 shares of the bank's stock after selling 97,103 shares during the quarter. Basswood Capital Management L.L.C. owned about 0.21% of Popular worth $14,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BPOP. Vanguard Group Inc. increased its holdings in shares of Popular by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock valued at $873,519,000 after acquiring an additional 56,222 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $394,373,000 after purchasing an additional 201,067 shares during the period. Wellington Management Group LLP lifted its stake in shares of Popular by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock worth $179,505,000 after buying an additional 25,222 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Popular by 57.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock worth $133,446,000 after buying an additional 515,798 shares during the period. Finally, American Century Companies Inc. raised its holdings in Popular by 3.0% in the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after acquiring an additional 39,999 shares during the period. 87.27% of the stock is currently owned by institutional investors.

Popular Stock Down 0.0 %

BPOP traded down $0.02 during trading on Wednesday, reaching $99.03. 486,964 shares of the company's stock were exchanged, compared to its average volume of 493,385. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The company has a market capitalization of $6.87 billion, a P/E ratio of 11.57, a PEG ratio of 0.75 and a beta of 0.60. The business has a 50 day moving average price of $90.55 and a 200 day moving average price of $95.10.

Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share for the quarter, beating 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 in the previous year, the firm posted $1.43 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.70 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. Popular's payout ratio is presently 28.90%.

Insider Buying and Selling

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the 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 transaction, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Hovde Group lowered their price target on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price target on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. StockNews.com lowered shares of Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada increased their price target on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.14.

Popular 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.