Stifel Financial Corp Lowers Position in Popular, Inc. (NASDAQ:BPOP)

Stifel Financial Corp lowered its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 70.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,219 shares of the bank's stock after selling 9,948 shares during the period. Stifel Financial Corp's holdings in Popular were worth $397,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after buying an additional 112 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Popular by 56.7% in the 4th 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 raised its holdings in shares of Popular by 0.7% in the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after purchasing an additional 143 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Popular by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank's stock valued at $2,949,000 after purchasing an additional 190 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 214 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BPOP. Barclays restated an "overweight" rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Piper Sandler raised their price objective on shares of Popular from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday. Hovde Group reduced 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. Royal Bank of Canada raised their price objective on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised shares of Popular from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.43.

Popular Trading Down 0.3%

Shares of NASDAQ BPOP traded down $0.27 during mid-day trading on Friday, reaching $104.52. The company had a trading volume of 464,570 shares, compared to its average volume of 499,131. The firm has a 50 day simple moving average of $91.96 and a two-hundred day simple moving average of $95.67. The stock has a market cap of $7.25 billion, a P/E ratio of 12.21, a PEG ratio of 0.75 and a beta of 0.60. Popular, Inc. has a 52-week low of $78.23 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.30. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. During the same period last year, the firm posted $1.43 EPS. Popular's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 29th. Popular's payout ratio is currently 28.90%.

Insiders Place Their Bets

In other news, VP Adorno Denissa Rodriguez sold 500 shares of Popular stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $104.43, for a total value of $52,215.00. Following the sale, the vice president now owns 3,604 shares of the company's stock, valued at $376,365.72. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.23% of the stock is currently owned by insiders.

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.