Popular, Inc. (NASDAQ:BPOP) Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. cut its position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,494 shares of the bank's stock after selling 11,367 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Popular worth $8,324,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Popular by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,286,832 shares of the bank's stock valued at $873,519,000 after acquiring an additional 56,222 shares during the last quarter. State Street Corp increased its stake in 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 purchasing an additional 10,599 shares during the last quarter. Wellington Management Group LLP boosted its stake in Popular by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 1,908,406 shares of the bank's stock worth $179,505,000 after buying an additional 25,222 shares during the last quarter. American Century Companies Inc. boosted its stake in Popular by 3.0% in the 4th quarter. American Century Companies Inc. now owns 1,362,875 shares of the bank's stock worth $128,192,000 after buying an additional 39,999 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank's stock valued at $105,769,000 after buying an additional 71,782 shares during the period. Institutional investors and hedge funds own 87.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Popular from a "hold" rating to a "buy" rating in a report on Saturday. Barclays lifted their price target on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, December 20th. UBS Group initiated coverage on Popular in a report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price objective for the company. Wells Fargo & Company upgraded Popular from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $110.00 to $100.00 in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods upped their price target on Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $111.57.

Popular Price Performance

Popular stock traded up $2.01 during midday trading on Tuesday, hitting $85.28. 89,629 shares of the stock were exchanged, compared to its average volume of 472,752. The company has a 50 day moving average price of $93.72 and a two-hundred day moving average price of $95.71. The firm has a market cap of $5.91 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.75 and a beta of 0.62. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (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%. As a group, analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Tuesday, March 18th. Popular's dividend payout ratio (DPR) is currently 32.71%.

Insider Activity

In other news, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were 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 in the company, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated Thursday, January 30th. The stock was 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 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 disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Popular Profile

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.