Popular, Inc. (NASDAQ:BPOP) Shares Sold by Boston Partners

Boston Partners reduced its position in shares of Popular, Inc. (NASDAQ:BPOP) by 91.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,473 shares of the bank’s stock after selling 160,773 shares during the period. Boston Partners’ holdings in Popular were worth $1,361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BPOP. Proficio Capital Partners LLC acquired a new position in Popular in the 4th quarter worth $27,000. Picton Mahoney Asset Management increased its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Popular in the third quarter worth about $47,000. Smartleaf Asset Management LLC boosted its holdings in 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 last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Popular during the 3rd quarter valued at approximately $81,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BPOP shares. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. UBS Group assumed coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their price objective on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Popular Stock Up 1.3 %

Shares of NASDAQ BPOP opened at $91.37 on Friday. The firm’s 50-day moving average price is $98.48 and its two-hundred day moving average price is $97.12. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81. The stock has a market capitalization of $6.36 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. As a group, equities research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. Popular’s dividend payout ratio is currently 32.71%.

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.