Popular, Inc. (NASDAQ:BPOP) Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Popular, Inc. (NASDAQ:BPOP - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,128 shares of the bank's stock after selling 39,976 shares during the quarter. New York State Common Retirement Fund owned 0.53% of Popular worth $35,567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Popular by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock valued at $211,000 after acquiring an additional 112 shares in the last quarter. Assetmark Inc. grew its holdings in 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 during the last quarter. Pathstone Holdings LLC increased its position in 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 buying an additional 148 shares in the last quarter. Rhumbline Advisers increased its position in Popular by 0.3% during the fourth quarter. Rhumbline Advisers now owns 92,877 shares of the bank's stock worth $8,736,000 after buying an additional 281 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in shares of Popular in the third quarter worth $29,000. Institutional investors and hedge funds own 87.27% of the company's stock.

Popular Stock Performance

Popular stock traded down $3.27 during midday trading on Friday, reaching $100.69. The stock had a trading volume of 583,536 shares, compared to its average volume of 463,066. The stock's 50-day simple moving average is $98.51 and its 200 day simple moving average is $97.73. Popular, Inc. has a twelve month low of $80.60 and a twelve month high of $106.81. The stock has a market capitalization of $7.18 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. Equities analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BPOP has been the subject of a number of recent research reports. StockNews.com upgraded Popular from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Barclays upped their price objective 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. Piper Sandler cut their price target on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on Popular in a report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.25.

Insider Transactions at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the company'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 value of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction 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. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.09% 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.