TCW Group Inc. lessened its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,031 shares of the bank's stock after selling 12,784 shares during the quarter. TCW Group Inc. owned about 0.12% of Popular worth $7,716,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of BPOP. Financial Management Professionals Inc. bought a new stake in Popular during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP purchased a new position in shares of Popular during the third quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new stake in Popular in the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Popular in the 3rd quarter worth $81,000. Finally, R Squared Ltd purchased a new stake in shares of Popular in the fourth quarter valued at about $166,000. Institutional investors own 87.27% of the company's stock.
Insider Buying and Selling
In other news, EVP Gilberto Monzon sold 9,600 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. UBS Group started coverage on shares of Popular in a research report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 target price for the company. Keefe, Bruyette & Woods increased their target price on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. StockNews.com raised Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Finally, Barclays raised their price objective on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.25.
Check Out Our Latest Research Report on BPOP
Popular Trading Up 0.1 %
Shares of BPOP traded up $0.09 during midday trading on Thursday, reaching $100.41. The stock had a trading volume of 412,121 shares, compared to its average volume of 455,258. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82. The company's 50-day moving average is $99.04 and its 200 day moving average is $97.91. Popular, Inc. has a 12-month low of $80.60 and a 12-month high of $106.81.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Research analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.80 annualized dividend and a yield of 2.79%. Popular's payout ratio is 32.71%.
Popular 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.
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