EMC Capital Management Lowers Position in Popular, Inc. (NASDAQ:BPOP)

EMC Capital Management trimmed its holdings in Popular, Inc. (NASDAQ:BPOP - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,519 shares of the bank's stock after selling 4,396 shares during the quarter. EMC Capital Management's holdings in Popular were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BPOP. Renaissance Technologies LLC acquired a new stake in Popular during the second quarter worth about $444,000. Xponance Inc. boosted its position in Popular by 22.6% in the 2nd quarter. Xponance Inc. now owns 3,130 shares of the bank's stock worth $277,000 after purchasing an additional 576 shares in the last quarter. Creative Planning grew its stake in shares of Popular by 18.0% during the 2nd quarter. Creative Planning now owns 7,406 shares of the bank's stock worth $655,000 after purchasing an additional 1,132 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Popular during the 2nd quarter worth approximately $569,000. Finally, SG Americas Securities LLC increased its holdings in shares of Popular by 36.9% during the 3rd quarter. SG Americas Securities LLC now owns 19,630 shares of the bank's stock valued at $1,968,000 after purchasing an additional 5,287 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BPOP shares. StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Barclays increased their price target on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, Piper Sandler reduced their target price on Popular from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Popular currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.25.

Popular Stock Down 3.0 %

Shares of NASDAQ BPOP traded down $3.06 during midday trading on Monday, hitting $99.88. The stock had a trading volume of 252,188 shares, compared to its average volume of 470,010. Popular, Inc. has a 1 year low of $80.60 and a 1 year high of $106.46. The company has a market capitalization of $7.12 billion, a PE ratio of 11.69, a P/E/G ratio of 0.74 and a beta of 0.81. The stock has a 50 day simple moving average of $97.36 and a 200-day simple moving average of $97.44.

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 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%. As a group, analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Popular's previous quarterly dividend of $0.62. Popular's dividend payout ratio is currently 32.71%.

Insider Buying and Selling at Popular

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at approximately $2,490,403.40. This represents a 12.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,325 shares of company stock worth $1,565,581. Insiders own 2.09% of the company's stock.

Popular Company 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.