Boston Partners Decreases Stake in Popular, Inc. (NASDAQ:BPOP)

Boston Partners lessened its stake in Popular, Inc. (NASDAQ:BPOP) by 91.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,473 shares of the bank’s stock after selling 160,773 shares during the quarter. Boston Partners’ holdings in Popular were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new position in Popular in the third quarter valued at about $213,000. Thrivent Financial for Lutherans increased its stake in Popular by 284.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock valued at $7,260,000 after purchasing an additional 53,590 shares in the last quarter. Pathstone Holdings LLC raised its holdings in Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after purchasing an additional 148 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Popular during the 3rd quarter worth $208,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Popular by 8.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 902,931 shares of the bank’s stock worth $90,537,000 after buying an additional 67,620 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Price Performance

BPOP opened at $91.37 on Friday. Popular, Inc. has a 12 month low of $80.60 and a 12 month high of $106.81. The business has a 50-day moving average of $98.48 and a two-hundred day moving average of $97.12. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, March 18th. Popular’s dividend payout ratio (DPR) is currently 32.71%.

Insider Activity at Popular

In related news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the transaction, the executive vice president now owns 32,866 shares in the company, valued at approximately $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Analysts Set New Price Targets

BPOP has been the subject of several recent research reports. Barclays raised their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company boosted their price target on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada increased their price objective on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group assumed coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Popular has an average rating of “Moderate Buy” and a consensus price target of $113.00.

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.