The Manufacturers Life Insurance Company trimmed its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 398,101 shares of the bank's stock after selling 2,722 shares during the period. The Manufacturers Life Insurance Company owned 0.56% of Popular worth $37,445,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new position in Popular in the fourth quarter worth about $27,000. Picton Mahoney Asset Management lifted its position in 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 during the last quarter. Smartleaf Asset Management LLC grew its holdings in Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after purchasing an additional 218 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Popular during the third quarter worth $81,000. Finally, R Squared Ltd purchased a new stake in shares of Popular during the 4th quarter valued at $166,000. 87.27% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on BPOP shares. Barclays reaffirmed an "overweight" rating and set a $125.00 target price (up from $115.00) on shares of Popular in a research report on Thursday, April 24th. Wells Fargo & Company upgraded shares of Popular from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $110.00 to $100.00 in a research report on Wednesday, April 9th. StockNews.com cut Popular from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Hovde Group reduced their price objective on shares of Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.14.
Read Our Latest Stock Analysis on Popular
Insider Buying and Selling
In related news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.09% of the stock is owned by corporate insiders.
Popular Trading Up 0.9 %
BPOP stock traded up $0.93 during mid-day trading on Wednesday, reaching $99.98. The company's stock had a trading volume of 155,499 shares, compared to its average volume of 605,618. The company's 50 day moving average is $90.55 and its two-hundred day moving average is $95.10. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The stock has a market cap of $6.93 billion, a PE ratio of 11.68, a P/E/G ratio of 0.75 and a beta of 0.60.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. During the same quarter last year, the firm earned $1.43 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 annualized dividend and a dividend yield of 2.80%. Popular's dividend payout ratio is presently 28.90%.
Popular Profile
(
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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