Raymond James Financial Inc. Purchases Shares of 32,253 Popular, Inc. (NASDAQ:BPOP)

Raymond James Financial Inc. acquired a new position in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 32,253 shares of the bank's stock, valued at approximately $3,034,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc grew its position in shares of Popular by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank's stock worth $211,000 after buying an additional 112 shares in the last quarter. Arizona State Retirement System grew its holdings in Popular by 0.7% during the 4th quarter. Arizona State Retirement System now owns 20,953 shares of the bank's stock worth $1,971,000 after acquiring an additional 143 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Popular by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank's stock worth $2,888,000 after purchasing an additional 214 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Popular by 56.6% in the 4th 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. Finally, Rhumbline Advisers lifted its position in shares of 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 purchasing an additional 281 shares during the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Price Performance

Shares of BPOP stock traded up $1.95 during trading hours on Wednesday, reaching $93.06. The stock had a trading volume of 581,729 shares, compared to its average volume of 454,936. The firm has a market capitalization of $6.45 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The firm has a 50-day simple moving average of $97.50 and a 200-day simple moving average of $96.85. Popular, Inc. has a twelve month low of $80.60 and a twelve month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date was Tuesday, March 18th. Popular's payout ratio is currently 32.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BPOP shares. Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. StockNews.com cut shares of Popular from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. UBS Group initiated coverage on shares of Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Popular presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.00.

Insiders Place Their Bets

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the business's 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 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 can be accessed through this link. 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 transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at $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 currently owned by insiders.

Popular 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.