The Manufacturers Life Insurance Company decreased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,101 shares of the bank's stock after selling 2,722 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.56% of Popular worth $37,445,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in BPOP. Picton Mahoney Asset Management lifted its position in Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock worth $31,000 after purchasing an additional 118 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Popular during the 3rd quarter valued at about $81,000. R Squared Ltd bought a new stake in Popular in the fourth quarter valued at about $166,000. Finally, Yousif Capital Management LLC acquired a new position in Popular in the fourth quarter worth about $202,000. Institutional investors own 87.27% of the company's stock.
Popular Stock Performance
BPOP traded up $2.86 during midday trading on Friday, hitting $99.61. The company had a trading volume of 469,306 shares, compared to its average volume of 491,186. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81. The firm's 50-day simple moving average is $90.59 and its 200-day simple moving average is $95.14. The company has a market capitalization of $6.91 billion, a PE ratio of 11.64, 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 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. The firm had revenue of $755.46 million for the quarter, compared to the consensus estimate of $760.45 million. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. Popular's payout ratio is presently 28.90%.
Insider Buying and Selling at Popular
In other 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 value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at $4,017,666.90. This represents a 19.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.09% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on BPOP shares. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price target on Popular from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Hovde Group cut their price objective on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Royal Bank of Canada boosted their target price on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays reiterated an "overweight" rating and set a $125.00 target price (up previously from $115.00) on shares of Popular in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Popular currently has a consensus rating of "Moderate Buy" and an average target price of $111.14.
View Our Latest Research Report on Popular
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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