Polaris Capital Management LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,565,478 shares of the bank's stock after selling 145,900 shares during the period. Popular makes up about 7.1% of Polaris Capital Management LLC's portfolio, making the stock its 2nd biggest position. Polaris Capital Management LLC owned about 2.20% of Popular worth $147,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Financial Management Professionals Inc. bought a new stake in shares of Popular during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new stake in Popular during the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new stake in Popular during the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB bought a new stake in Popular during the 3rd quarter valued at $81,000. Finally, R Squared Ltd bought a new stake in Popular during the 4th quarter valued at $166,000. 87.27% of the stock is owned by institutional investors.
Popular Price Performance
Popular stock traded up $1.90 during trading hours on Friday, hitting $104.90. 226,417 shares of the stock traded hands, compared to its average volume of 454,121. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 0.75 and a beta of 0.82. Popular, Inc. has a 1 year low of $80.60 and a 1 year high of $106.46. The firm's 50 day moving average price is $97.82 and its 200-day moving average price is $97.58.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping 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%. Research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on BPOP shares. UBS Group started coverage on Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Barclays lifted their price target on Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Wells Fargo & Company boosted their target price on Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their target price on Popular from $100.00 to $110.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.
Read Our Latest Analysis on Popular
Insiders Place Their Bets
In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the business'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 transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the business'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 value of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company's stock, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.
Popular Company 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.
Read More
Before you consider Popular, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.
While Popular currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
