Charles Schwab Investment Management Inc. Sells 44,191 Shares of Popular, Inc. (NASDAQ:BPOP)

Charles Schwab Investment Management Inc. reduced its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 6.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 633,312 shares of the bank’s stock after selling 44,191 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Popular were worth $58,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fourth Sail Capital LP grew its position in shares of Popular by 3.2% in the first quarter. Fourth Sail Capital LP now owns 120,182 shares of the bank’s stock valued at $11,101,000 after purchasing an additional 3,782 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Popular by 33.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the bank’s stock valued at $162,000 after purchasing an additional 438 shares during the last quarter. LSV Asset Management grew its position in shares of Popular by 6.2% in the first quarter. LSV Asset Management now owns 593,900 shares of the bank’s stock valued at $54,859,000 after purchasing an additional 34,575 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Popular during the first quarter worth about $4,687,000. Finally, Arkadios Wealth Advisors grew its position in Popular by 25.4% during the first quarter. Arkadios Wealth Advisors now owns 2,783 shares of the bank’s stock worth $257,000 after buying an additional 564 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Trading Down 1.1%

NASDAQ:BPOP opened at $118.00 on Friday. Popular, Inc. has a 1 year low of $78.23 and a 1 year high of $119.54. The firm has a 50 day moving average of $112.06 and a 200-day moving average of $101.85. The stock has a market capitalization of $7.97 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65.

Popular (NASDAQ:BPOP) last posted its earnings results on Wednesday, July 23rd. The bank reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.49. Popular had a net margin of 16.49% and a return on equity of 12.48%. The company had revenue of $800.03 million during the quarter, compared to analysts’ expectations of $777.38 million. During the same quarter in the previous year, the company posted $2.46 earnings per share. As a group, analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Camille Burckhart sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $104.14, for a total value of $728,980.00. Following the completion of the transaction, the executive vice president owned 27,382 shares in the company, valued at $2,851,561.48. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BPOP. Wall Street Zen downgraded Popular from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Popular in a research report on Thursday, July 24th. Piper Sandler lifted their target price on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods lifted their target price on Popular from $125.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Barclays lifted their target price on Popular from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $128.88.

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.