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

Salzhauer Michael cut its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,194 shares of the bank’s stock after selling 1,400 shares during the period. Popular accounts for approximately 0.5% of Salzhauer Michael’s holdings, making the stock its 24th biggest holding. Salzhauer Michael’s holdings in Popular were worth $1,617,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BPOP. Financial Management Professionals Inc. bought a new stake in shares of Popular during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in shares of Popular during the third quarter worth $35,000. Brooklyn Investment Group bought a new stake in Popular in the third quarter valued at about $47,000. Wilmington Savings Fund Society FSB acquired a new position in Popular in the third quarter valued at about $81,000. Finally, R Squared Ltd bought a new position in Popular during the fourth quarter worth about $166,000. Institutional investors own 87.27% of the company’s stock.

Popular Trading Down 0.3 %

BPOP opened at $103.37 on Monday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.75 and a beta of 0.82. Popular, Inc. has a 12 month low of $80.60 and a 12 month high of $106.46. The firm’s fifty day simple moving average is $97.54 and its 200 day simple moving average is $97.52.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities research analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.71%. Popular’s payout ratio is 32.71%.

Analysts Set New Price Targets

BPOP has been the subject of a number of recent analyst reports. UBS Group initiated coverage on Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target for the company. Keefe, Bruyette & Woods upped their target price on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Barclays boosted their price target on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.

Insider Transactions at Popular

In other news, EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were 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. The trade was a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

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.