Proficio Capital Partners LLC Acquires New Holdings in Popular, Inc. (NASDAQ:BPOP)

Proficio Capital Partners LLC bought a new position in Popular, Inc. (NASDAQ:BPOP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,995 shares of the bank's stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. State Street Corp increased its position in shares of Popular by 0.5% in the third quarter. State Street Corp now owns 2,056,377 shares of the bank's stock valued at $207,475,000 after acquiring an additional 10,599 shares during the period. Principal Financial Group Inc. increased its holdings in Popular by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after purchasing an additional 71,782 shares during the period. Massachusetts Financial Services Co. MA raised its position in Popular by 8.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank's stock valued at $90,537,000 after purchasing an additional 67,620 shares during the last quarter. Bank of New York Mellon Corp raised its position in Popular by 15.4% during the 4th quarter. Bank of New York Mellon Corp now owns 697,389 shares of the bank's stock valued at $65,596,000 after purchasing an additional 93,262 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Popular by 3.7% in the 3rd quarter. Verition Fund Management LLC now owns 629,537 shares of the bank's stock worth $63,124,000 after buying an additional 22,355 shares during the period. 87.27% of the stock is currently owned by institutional investors.

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Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the business's 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 directly owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the company'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 completion of the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Popular Price Performance

NASDAQ:BPOP traded up $0.33 during mid-day trading on Monday, hitting $90.44. 744,247 shares of the company's stock were exchanged, compared to its average volume of 430,685. The company has a market cap of $6.30 billion, a PE ratio of 10.57, a P/E/G ratio of 0.75 and a beta of 0.77. Popular, Inc. has a one year low of $80.60 and a one year high of $106.81. The business has a fifty day moving average price of $98.85 and a 200 day moving average price of $97.49.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Popular's payout ratio is presently 32.71%.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Barclays lifted their target price on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their price target on shares of Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Finally, UBS Group initiated coverage on shares of Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $113.00.

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.