Popular, Inc. (NASDAQ:BPOP) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its position in Popular, Inc. (NASDAQ:BPOP) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,550 shares of the bank’s stock after selling 850 shares during the period. Alaska Permanent Fund Corp’s holdings in Popular were worth $3,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BPOP. Wellington Management Group LLP lifted its position in shares of Popular by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock valued at $226,829,000 after acquiring an additional 642,694 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Popular by 64.9% during the 3rd quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock valued at $45,792,000 after acquiring an additional 286,119 shares during the last quarter. rhino investment partners Inc lifted its position in shares of Popular by 145.1% during the 3rd quarter. rhino investment partners Inc now owns 478,004 shares of the bank’s stock valued at $30,119,000 after acquiring an additional 283,004 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Popular during the 3rd quarter valued at $11,555,000. Finally, AQR Capital Management LLC lifted its position in shares of Popular by 41.1% during the 3rd quarter. AQR Capital Management LLC now owns 597,799 shares of the bank’s stock valued at $37,667,000 after acquiring an additional 174,225 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Stock Performance

Shares of NASDAQ BPOP traded up $0.48 during mid-day trading on Wednesday, reaching $88.36. The company had a trading volume of 446,693 shares, compared to its average volume of 452,653. Popular, Inc. has a twelve month low of $52.32 and a twelve month high of $89.70. The stock has a market capitalization of $6.39 billion, a PE ratio of 11.61 and a beta of 0.82. The stock’s 50 day moving average is $84.45 and its 200-day moving average is $78.77.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.89. Popular had a net margin of 13.86% and a return on equity of 12.63%. The business had revenue of $702.92 million for the quarter, compared to the consensus estimate of $699.76 million. On average, sell-side analysts anticipate that Popular, Inc. will post 8.52 EPS for the current year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s payout ratio is 32.93%.

Insiders Place Their Bets

In other Popular news, EVP Luis E. Cestero sold 599 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total transaction of $51,304.35. Following the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the completion of the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $85.65, for a total transaction of $51,304.35. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group increased their price objective on Popular from $84.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $110.00 target price (up from $103.00) on shares of Popular in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.22.

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.