Boston Partners Sells 160,773 Shares of Popular, Inc. (NASDAQ:BPOP)

Boston Partners decreased its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 91.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,473 shares of the bank's stock after selling 160,773 shares during the quarter. Boston Partners' holdings in Popular were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after acquiring an additional 112 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in 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 buying an additional 118 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Popular by 0.7% in the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock valued at $1,971,000 after buying an additional 143 shares in the last quarter. Pathstone Holdings LLC increased 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. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Popular by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock worth $2,888,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

BPOP has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. UBS Group started coverage on shares of Popular in a research report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays boosted 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $113.00.

Insiders Place Their Bets

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the company'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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of the business's 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 sale, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. The trade was a 23.33 % 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.

Popular Stock Up 0.5 %

Popular stock traded up $0.42 during midday trading on Wednesday, reaching $93.54. The stock had a trading volume of 471,420 shares, compared to its average volume of 437,967. The firm has a market capitalization of $6.51 billion, a PE ratio of 10.93, a P/E/G ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 12 month low of $80.60 and a 12 month high of $106.81. The firm's 50-day moving average price is $98.37 and its 200 day moving average price is $97.04.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating 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%. Equities research analysts expect 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. Investors of record on Tuesday, March 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Popular's dividend payout ratio (DPR) 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.