Cibc World Markets Corp bought a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 64,200 shares of the bank's stock, valued at approximately $6,039,000. Cibc World Markets Corp owned about 0.09% of Popular at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its stake in Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after buying an additional 118 shares during the period. Brooklyn Investment Group acquired a new position in shares of Popular during the 3rd quarter worth approximately $47,000. Smartleaf Asset Management LLC raised its stake in Popular by 56.6% in the 4th 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 period. Wilmington Savings Fund Society FSB bought a new stake in Popular in the 3rd quarter valued at $81,000. Finally, R Squared Ltd acquired a new stake in Popular during the 4th quarter valued at $166,000. 87.27% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
BPOP has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Barclays upped their price target 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. StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective 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. Finally, UBS Group assumed coverage on Popular in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Popular presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.00.
Check Out Our Latest Stock Analysis on Popular
Insider Buying and Selling at Popular
In other Popular news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.
Popular Price Performance
Popular stock traded up $1.44 during mid-day trading on Monday, reaching $92.81. 721,795 shares of the company were exchanged, compared to its average volume of 438,055. The firm has a market cap of $6.46 billion, a PE ratio of 10.84, a PEG 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 company has a fifty day simple moving average of $98.48 and a 200-day simple moving average of $97.11.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping 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 anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.
Popular Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Popular's dividend payout ratio (DPR) is 32.71%.
Popular 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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