Salzhauer Michael Sells 1,400 Shares of Popular, Inc. (NASDAQ:BPOP)

Salzhauer Michael reduced its stake in Popular, Inc. (NASDAQ:BPOP) by 7.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,194 shares of the bank’s stock after selling 1,400 shares during the quarter. Popular accounts for approximately 0.5% of Salzhauer Michael’s investment portfolio, making the stock its 24th largest holding. Salzhauer Michael’s holdings in Popular were worth $1,617,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its position in shares of Popular by 235.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock valued at $33,299,000 after acquiring an additional 233,119 shares during the period. Soros Fund Management LLC acquired a new position in Popular in the third quarter valued at about $9,115,000. Jacobs Levy Equity Management Inc. lifted its position in Popular by 18.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock worth $54,954,000 after purchasing an additional 84,839 shares during the period. Point72 Asset Management L.P. acquired a new stake in Popular during the third quarter worth about $8,385,000. Finally, Franklin Resources Inc. increased its holdings 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 buying an additional 75,164 shares during the period. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Ratings Changes

BPOP has been the topic of several analyst reports. Barclays increased their price target on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their price target on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. StockNews.com raised Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Piper Sandler reduced their price target on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.25.

Insider Activity

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the firm’s stock in a transaction 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 directly owns 32,866 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. 2.09% of the stock is owned by company insiders.

Popular Trading Down 0.3 %

Shares of BPOP stock opened at $103.37 on Monday. Popular, Inc. has a 1-year low of $80.60 and a 1-year high of $106.46. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.75 and a beta of 0.82. The stock has a 50-day moving average of $97.54 and a 200-day moving average of $97.52.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 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%. Sell-side analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $0.70 dividend. The ex-dividend date was Friday, December 6th. This is a positive change from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. Popular’s dividend payout ratio (DPR) is 32.71%.

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.