Popular, Inc. (NASDAQ:BPOP) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. reduced its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,087 shares of the bank’s stock after selling 291 shares during the period. Foster & Motley Inc.’s holdings in Popular were worth $828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BPOP. Vanguard Group Inc. increased its holdings in shares of Popular by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,016,116 shares of the bank’s stock valued at $568,105,000 after acquiring an additional 171,391 shares during the last quarter. Wellington Management Group LLP increased its stake in Popular by 21.7% during the third quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock valued at $226,829,000 after purchasing an additional 642,694 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Popular by 64.9% during the third quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock worth $45,792,000 after purchasing an additional 286,119 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Popular by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 711,686 shares of the bank’s stock worth $44,843,000 after buying an additional 27,767 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of Popular by 7.6% in the 3rd quarter. Earnest Partners LLC now owns 693,493 shares of the bank’s stock valued at $43,697,000 after buying an additional 49,255 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BPOP shares. Hovde Group increased their price objective on shares of Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays initiated coverage on Popular in a research report on Friday, March 8th. They set an “overweight” rating and a $99.00 price target on the stock. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Piper Sandler upped their price objective on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods increased their target price on Popular from $95.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Popular presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Buying and Selling

In other Popular news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $2,272,208.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Luis E. Cestero sold 4,641 shares of Popular stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at $2,272,208.85. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Popular Stock Performance

Shares of BPOP opened at $87.88 on Wednesday. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 11.67 and a beta of 0.82. The stock’s fifty day moving average is $84.45 and its 200-day moving average is $78.77. Popular, Inc. has a one year low of $52.32 and a one year high of $89.70.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.05 by $0.89. Popular had a net margin of 13.86% and a return on equity of 12.63%. The firm had revenue of $702.92 million for the quarter, compared to analysts’ expectations of $699.76 million. Analysts forecast that Popular, Inc. will post 8.52 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were paid a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.82%. Popular’s dividend payout ratio is presently 32.93%.

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.