Cannon Global Investment Management LLC Has $376,000 Position in Popular, Inc. (NASDAQ:BPOP)

Cannon Global Investment Management LLC trimmed its holdings in Popular, Inc. (NASDAQ:BPOP) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the bank’s stock after selling 200 shares during the period. Cannon Global Investment Management LLC’s holdings in Popular were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BPOP. Bank of New York Mellon Corp lifted its stake in Popular by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 697,389 shares of the bank’s stock worth $65,596,000 after purchasing an additional 93,262 shares during the last quarter. Soros Fund Management LLC acquired a new stake in Popular in the third quarter valued at about $9,115,000. Jacobs Levy Equity Management Inc. grew its position in Popular by 18.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock valued at $54,954,000 after acquiring an additional 84,839 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Popular during the third quarter worth about $8,385,000. Finally, Franklin Resources Inc. lifted its stake in Popular by 304.3% in the 3rd quarter. Franklin Resources Inc. now owns 99,861 shares of the bank’s stock valued at $10,042,000 after purchasing an additional 75,164 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Buying and Selling at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Popular Price Performance

Shares of NASDAQ:BPOP opened at $91.37 on Monday. Popular, Inc. has a 1 year low of $80.60 and a 1 year high of $106.81. The business’s 50-day moving average is $98.48 and its 200-day moving average is $97.11. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last posted its quarterly 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 net margin of 14.15% and a return on equity of 11.89%. Analysts anticipate that Popular, Inc. will post 10.06 EPS 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s dividend payout ratio is currently 32.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. UBS Group began coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Popular has an average rating of “Moderate Buy” and a consensus price target of $113.00.

About Popular

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.