Ieq Capital LLC Boosts Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Ieq Capital LLC grew its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 647.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,775 shares of the bank's stock after purchasing an additional 17,130 shares during the period. Ieq Capital LLC's holdings in Popular were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in Popular by 279.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,798 shares of the bank's stock valued at $3,890,000 after buying an additional 28,574 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Popular by 8.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,298 shares of the bank's stock worth $534,000 after acquiring an additional 410 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Popular in the 3rd quarter worth about $1,468,000. Assenagon Asset Management S.A. raised its position in Popular by 171.3% in the third quarter. Assenagon Asset Management S.A. now owns 78,441 shares of the bank's stock valued at $7,865,000 after purchasing an additional 49,533 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Popular by 28.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,918 shares of the bank's stock valued at $493,000 after purchasing an additional 1,103 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group started coverage on shares of Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Barclays raised their target price on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. StockNews.com raised Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Popular currently has an average rating of "Moderate Buy" and a consensus price target of $112.25.

Popular Price Performance

Shares of Popular stock traded up $0.09 on Thursday, hitting $100.41. 412,121 shares of the company's stock traded hands, compared to its average volume of 455,258. The company has a fifty day moving average of $99.04 and a two-hundred day moving average of $97.91. Popular, Inc. has a one year low of $80.60 and a one year high of $106.81. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly 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%. Equities research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The business also recently declared 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 2.79%. The ex-dividend date is Tuesday, March 18th. Popular's payout ratio is 32.71%.

Insider Buying and Selling at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of the business's 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 completion of the sale, the executive vice president now directly owns 39,170 shares of the company's stock, valued at $4,017,666.90. The trade was a 19.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, the executive vice president now owns 32,866 shares of the company's stock, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

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.