O Shaughnessy Asset Management LLC Cuts Stake in Popular, Inc. (NASDAQ:BPOP)

O Shaughnessy Asset Management LLC reduced its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,150 shares of the bank's stock after selling 8,956 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.06% of Popular worth $4,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new position in Popular during the fourth quarter valued at $27,000. Picton Mahoney Asset Management grew its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after purchasing an additional 218 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Popular in the third quarter worth about $81,000. Finally, R Squared Ltd bought a new position in Popular during the fourth quarter valued at approximately $166,000. Institutional investors own 87.27% of the company's stock.

Popular Price Performance

Shares of Popular stock traded down $0.66 during trading on Monday, hitting $81.84. The stock had a trading volume of 1,356,895 shares, compared to its average volume of 465,489. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $106.81. The firm's fifty day simple moving average is $96.34 and its 200-day simple moving average is $96.47. The stock has a market cap of $5.67 billion, a PE ratio of 9.56, a PEG ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data 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%. Analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Tuesday, March 18th. Popular's payout ratio is currently 32.71%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group assumed coverage on Popular in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective on the stock. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price objective on shares of Popular from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Finally, StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Popular has a consensus rating of "Moderate Buy" and an average price target of $113.00.

Insider Buying and Selling at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated Thursday, January 30th. The shares were 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 owns 32,866 shares in the company, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. This 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 currently owned by corporate insiders.

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.