Bank of New York Mellon Corp grew its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 697,389 shares of the bank's stock after purchasing an additional 93,262 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.98% of Popular worth $65,596,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in shares of Popular during the 3rd quarter worth about $35,000. Brooklyn Investment Group acquired a new position in Popular during the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new position in Popular during the third quarter valued at approximately $81,000. R Squared Ltd bought a new stake in Popular in the fourth quarter valued at approximately $166,000. Finally, Arcus Capital Partners LLC acquired a new stake in Popular in the third quarter worth $201,000. Institutional investors and hedge funds own 87.27% of the company's stock.
Popular Stock Up 0.3 %
BPOP traded up $0.30 during trading hours on Friday, hitting $94.13. 185,136 shares of the company's stock were exchanged, compared to its average volume of 470,443. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 1-year low of $80.60 and a 1-year high of $106.81. The stock's 50-day moving average is $99.47 and its two-hundred day moving average is $97.93.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.15% and a return on equity of 11.89%. On average, equities research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.
Popular Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular's payout ratio is presently 32.71%.
Insider Transactions at Popular
In related news, EVP Eduardo J. Negron sold 10,000 shares of Popular 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 transaction, the executive vice president now directly owns 32,866 shares of the company's stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gilberto Monzon sold 9,600 shares of the company's 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 sale, the executive vice president now owns 39,170 shares of the company's stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on BPOP shares. Keefe, Bruyette & Woods upped 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. Barclays increased their price target on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. UBS Group began coverage on Popular in a report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price objective on the stock. StockNews.com raised Popular from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price target 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Popular currently has an average rating of "Moderate Buy" and an average target price of $112.25.
Get Our Latest Analysis on Popular
Popular Company 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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