Venturi Wealth Management LLC Raises Position in Popular, Inc. (NASDAQ:BPOP)

Venturi Wealth Management LLC increased its stake in Popular, Inc. (NASDAQ:BPOP - Free Report) by 1,938.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,731 shares of the bank's stock after buying an additional 2,597 shares during the period. Venturi Wealth Management LLC's holdings in Popular were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in Popular in the third quarter worth $29,000. Capital Performance Advisors LLP bought a new stake in Popular in the 3rd quarter worth about $35,000. Brooklyn Investment Group purchased a new position in Popular in the 3rd quarter worth about $47,000. Wilmington Savings Fund Society FSB bought a new position in Popular during the third quarter valued at approximately $81,000. Finally, R Squared Ltd purchased a new stake in Popular during the fourth quarter valued at $166,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BPOP. Barclays increased their price target on shares of Popular from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. StockNews.com raised shares of Popular from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. UBS Group assumed coverage on Popular in a report on Tuesday, December 17th. They set a "neutral" rating and a $104.00 price target on the stock. 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 research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their price target on Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Popular has an average rating of "Moderate Buy" and a consensus price target of $112.25.

Insider Activity at Popular

In related news, 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 value of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares of the company's stock, valued at $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 available through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction on Thursday, January 30th. The stock was 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 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. 2.13% of the stock is currently owned by corporate insiders.

Popular Trading Up 0.1 %

Shares of BPOP traded up $0.09 during midday trading on Tuesday, reaching $100.37. 441,886 shares of the stock were exchanged, compared to its average volume of 459,233. The company's 50 day moving average is $98.70 and its two-hundred day moving average is $97.86. The company has a market capitalization of $7.16 billion, a P/E ratio of 11.73, a PEG ratio of 0.75 and a beta of 0.82. Popular, Inc. has a 52 week low of $80.60 and a 52 week high of $106.81.

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, beating the consensus estimate 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 expect that Popular, Inc. will post 10.06 EPS for the current year.

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.