Cannon Global Investment Management LLC Sells 200 Shares of Popular, Inc. (NASDAQ:BPOP)

Cannon Global Investment Management LLC lowered its holdings in Popular, Inc. (NASDAQ:BPOP) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,000 shares of the bank’s stock after selling 200 shares during the quarter. Cannon Global Investment Management LLC’s holdings in Popular were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pathstone Holdings LLC lifted its position in shares of Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after acquiring an additional 148 shares in the last quarter. Caprock Group LLC bought a new position in Popular in the 3rd quarter worth about $208,000. Massachusetts Financial Services Co. MA boosted its stake in Popular by 8.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank’s stock worth $90,537,000 after purchasing an additional 67,620 shares during the period. Cerity Partners LLC grew its holdings in Popular by 83.9% during the 3rd quarter. Cerity Partners LLC now owns 9,546 shares of the bank’s stock valued at $957,000 after buying an additional 4,354 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Popular during the third quarter valued at about $2,337,000. 87.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target 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 initiated coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective for the company. Finally, Barclays upped their target price on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Two investment 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 company presently has an average rating of “Moderate Buy” and an average target price of $113.00.

Insider Activity at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction 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 approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

Shares of Popular stock opened at $91.37 on Monday. The company’s 50 day moving average price is $98.48 and its 200-day moving average price is $97.11. 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 price-to-earnings 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, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, equities research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, March 18th. Popular’s payout ratio is 32.71%.

About Popular

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.