Popular, Inc. (NASDAQ:BPOP) Stock Position Decreased by M&T Bank Corp

M&T Bank Corp cut its stake in shares of Popular, Inc. (NASDAQ:BPOPFree Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,288 shares of the bank’s stock after selling 1,602 shares during the period. M&T Bank Corp’s holdings in Popular were worth $1,012,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BPOP. Bruce G. Allen Investments LLC acquired a new stake in Popular during the 4th quarter worth about $44,000. Assetmark Inc. raised its stake in shares of Popular by 55.4% during the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Popular in the 4th quarter valued at approximately $90,000. NBC Securities Inc. acquired a new position in Popular in the third quarter worth approximately $202,000. Finally, Park Avenue Securities LLC bought a new position in Popular during the third quarter valued at approximately $206,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Popular

In other news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.09% of the company’s stock.

Popular Trading Up 1.2 %

BPOP opened at $90.92 on Friday. The business has a 50 day moving average of $85.55 and a 200-day moving average of $80.94. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.85 and a beta of 0.81. Popular, Inc. has a 1-year low of $53.46 and a 1-year high of $90.99.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, May 30th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 30th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Citigroup boosted their price target on Popular from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Wells Fargo & Company increased their price objective on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. StockNews.com raised Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Piper Sandler lifted their price target on shares of Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

View Our Latest Stock Analysis on BPOP

Popular Company 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.

See Also

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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