Charles Schwab Investment Management Inc. Sells 35,454 Shares of Popular, Inc. (NASDAQ:BPOP)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 677,503 shares of the bank's stock after selling 35,454 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.95% of Popular worth $63,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BPOP. CIBC Asset Management Inc increased its position in shares of 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 purchasing an additional 112 shares during the last quarter. Assetmark Inc. raised its position in shares of Popular by 4.0% during the 3rd quarter. Assetmark Inc. now owns 3,749 shares of the bank's stock valued at $376,000 after buying an additional 143 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Popular by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank's stock worth $1,974,000 after acquiring an additional 148 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Popular by 0.7% in the fourth 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 in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 218 shares during the last quarter. 87.27% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

BPOP has been the topic of several research reports. Wells Fargo & Company lifted their price target 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. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the stock 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 research note on Wednesday, January 29th. Barclays raised their price objective on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada boosted their target price on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.

Insider Buying and Selling at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company's stock.

Popular Price Performance

BPOP traded up $0.69 during midday trading on Thursday, reaching $87.83. 756,789 shares of the company's stock traded hands, compared to its average volume of 517,560. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 52 week low of $80.60 and a 52 week high of $106.81. The firm has a fifty day moving average of $99.03 and a two-hundred day moving average of $97.67.

Popular (NASDAQ:BPOP - Get Free Report) 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%. Sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently disclosed 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 yield of 3.19%. The ex-dividend date is Tuesday, March 18th. Popular's dividend payout ratio (DPR) is presently 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.