Two Sigma Securities LLC lessened its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 70.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,497 shares of the bank's stock after selling 6,080 shares during the quarter. Two Sigma Securities LLC's holdings in Popular were worth $235,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BPOP. Proficio Capital Partners LLC bought a new stake in Popular during the 4th quarter valued at about $27,000. Picton Mahoney Asset Management raised its stake in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after purchasing an additional 218 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular in the third quarter valued at approximately $81,000. Finally, R Squared Ltd bought a new position in Popular in the fourth quarter worth approximately $166,000. 87.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on BPOP. StockNews.com downgraded shares of Popular from a "buy" rating to a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Hovde Group reduced their target price on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada boosted their price target on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. Two 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 stock has an average rating of "Moderate Buy" and a consensus price target of $111.14.
View Our Latest Stock Analysis on Popular
Popular Trading Up 0.7 %
Popular stock traded up $0.69 during mid-day trading on Monday, hitting $100.30. The company had a trading volume of 91,436 shares, compared to its average volume of 489,614. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $106.81. The company's fifty day moving average is $90.59 and its 200-day moving average is $95.09.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) 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 firm had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Tuesday, March 18th. Popular's dividend payout ratio (DPR) is presently 28.90%.
Insider Activity at Popular
In other news, EVP Gilberto Monzon sold 9,600 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. 2.09% of the stock is owned by company insiders.
About Popular
(
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.
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