EMC Capital Management cut its stake in Popular, Inc. (NASDAQ:BPOP – Free Report) by 44.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,519 shares of the bank’s stock after selling 4,396 shares during the quarter. EMC Capital Management’s holdings in Popular were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in Popular in the 3rd quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular in the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of Popular in the 3rd quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB acquired a new position in Popular in the third quarter worth approximately $81,000. Finally, R Squared Ltd bought a new position in Popular during the fourth quarter valued at approximately $166,000. 87.27% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Beatriz Castellvi sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total value of $347,060.00. Following the completion of the transaction, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at $2,490,403.40. This trade represents a 12.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. This trade represents a 35.39 % 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 Price Performance
Popular (NASDAQ:BPOP – Get Free Report) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.35% and a net margin of 12.36%. Equities analysts expect that Popular, Inc. will post 8.41 EPS for the current fiscal year.
Popular Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.70 dividend. This is an increase from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.80 annualized dividend and a dividend yield of 2.67%. Popular’s dividend payout ratio (DPR) is presently 38.04%.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday. Piper Sandler reduced their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. 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. Royal Bank of Canada raised their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group began coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.
View Our Latest Stock Analysis on Popular
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.
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