Proficio Capital Partners LLC bought a new stake in Popular, Inc. (NASDAQ:BPOP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,995 shares of the bank's stock, valued at approximately $27,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Popular during the 3rd quarter worth $47,000. Smartleaf Asset Management LLC grew its holdings in Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock valued at $57,000 after buying an additional 218 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Popular during the 3rd quarter worth approximately $81,000. R Squared Ltd purchased a new stake in shares of Popular in the fourth quarter worth $166,000. Finally, Yousif Capital Management LLC purchased a new stake in shares of Popular in the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 87.27% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on BPOP shares. Wells Fargo & Company increased their price target on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price target on Popular from $116.00 to $129.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Barclays upped their target price on Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Finally, UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $113.00.
Read Our Latest Stock Report on BPOP
Popular Trading Up 2.1 %
Shares of NASDAQ:BPOP traded up $1.95 during trading on Wednesday, reaching $93.06. 581,729 shares of the company traded hands, compared to its average volume of 454,936. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81. The business's fifty day moving average is $97.50 and its 200-day moving average is $96.85.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share 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%. On average, sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.
Popular Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. Popular's payout ratio is 32.71%.
Insiders Place Their Bets
In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated 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 owns 32,866 shares of the company's stock, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company's stock.
About Popular
(
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.
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