Popular, Inc. (NASDAQ:BPOP) Shares Sold by Polaris Capital Management LLC

Polaris Capital Management LLC lowered its holdings in Popular, Inc. (NASDAQ:BPOP) by 8.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,565,478 shares of the bank’s stock after selling 145,900 shares during the quarter. Popular accounts for about 7.1% of Polaris Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Polaris Capital Management LLC’s holdings in Popular were worth $147,249,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new stake in shares of Popular during the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new position in Popular in the third quarter worth $35,000. Brooklyn Investment Group acquired a new stake in Popular during the third quarter worth $47,000. Wilmington Savings Fund Society FSB bought a new stake in Popular in the 3rd quarter valued at $81,000. Finally, R Squared Ltd acquired a new position in shares of Popular in the 4th quarter valued at $166,000. 87.27% of the stock is owned by institutional investors.

Popular Stock Performance

Shares of BPOP stock opened at $101.48 on Tuesday. The firm’s 50 day moving average price is $97.54 and its two-hundred day moving average price is $97.51. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.46. The stock has a market cap of $7.24 billion, a PE ratio of 11.86, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last released 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 return on equity of 11.89% and a net margin of 14.15%. As a group, sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio is currently 32.71%.

Insiders Place Their Bets

In related news, EVP Eduardo J. Negron sold 10,000 shares of the business’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 sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the business’s 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 completion of the sale, the executive vice president now owns 39,170 shares in the company, valued at approximately $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. Corporate insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the subject of several recent research reports. Wells Fargo & Company increased their price target on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. 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 report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Barclays raised their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

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.