By otakuyassine3@gmail.com 
Atria Investments Inc reduced its position in Popular, Inc. (NASDAQ:BPOP – Free Report) by 6.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,762 shares of the bank’s stock after selling 757 shares during the period. Atria Investments Inc’s holdings in Popular were worth $1,106,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Popular during the third quarter worth approximately $47,000. Smartleaf Asset Management LLC increased its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Popular during the third quarter worth approximately $81,000. R Squared Ltd bought a new stake in Popular during the fourth quarter worth approximately $166,000. Finally, Caprock Group LLC bought a new stake in Popular during the third quarter worth approximately $208,000. 87.27% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Eduardo J. Negron sold 10,000 shares of the 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 completion of the sale, the executive vice president now owns 32,866 shares in the company, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the stock in a transaction 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 sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.
Popular Stock Down 0.3 %
Shares of NASDAQ:BPOP opened at $87.14 on Thursday. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81. The stock has a market cap of $6.21 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The business’s 50 day moving average is $99.03 and its 200 day moving average is $97.67.
Popular (NASDAQ:BPOP – Get Free Report) last posted its earnings results 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 anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Popular’s dividend payout ratio is currently 32.71%.
Wall Street Analyst Weigh In
BPOP has been the topic of a number of analyst reports. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Barclays upped their target price on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. UBS Group initiated coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Royal Bank of Canada upped their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Popular has an average rating of “Moderate Buy” and an average target price of $112.25.
Get Our Latest Research Report on Popular
Popular Company 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.
See Also
Want to see what other hedge funds are holding BPOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Popular, Inc. (NASDAQ:BPOP – Free Report).
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