Popular, Inc. (NASDAQ:BPOP) Shares Sold by Fourth Sail Capital LP

Fourth Sail Capital LP lessened its position in shares of Popular, Inc. (NASDAQ:BPOP) by 35.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 116,400 shares of the bank’s stock after selling 64,300 shares during the period. Popular accounts for about 2.4% of Fourth Sail Capital LP’s portfolio, making the stock its 16th biggest holding. Fourth Sail Capital LP’s holdings in Popular were worth $10,293,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BPOP. Wellington Management Group LLP grew its stake in shares of Popular by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 3,816,736 shares of the bank’s stock worth $313,240,000 after purchasing an additional 216,855 shares in the last quarter. American Century Companies Inc. lifted its holdings in Popular by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock worth $107,781,000 after buying an additional 113,838 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Popular by 57.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock worth $88,859,000 after acquiring an additional 366,870 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Popular by 52.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock worth $73,867,000 after acquiring an additional 286,450 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Popular in the 4th quarter valued at about $66,881,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Popular news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the transaction, the executive vice president now directly owns 29,922 shares of the company’s stock, valued at approximately $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Piper Sandler initiated coverage on Popular in a report on Monday, August 26th. They issued an “overweight” rating and a $112.00 price target for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 target price (up previously from $110.00) on shares of Popular in a report on Thursday, July 25th. Barclays lifted their price target on shares of Popular from $103.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Popular Stock Performance

Shares of Popular stock opened at $98.31 on Tuesday. The company has a market capitalization of $7.11 billion, a P/E ratio of 14.59, a PEG ratio of 0.65 and a beta of 0.78. Popular, Inc. has a 1 year low of $59.27 and a 1 year high of $105.01. The company’s fifty day moving average is $98.06 and its two-hundred day moving average is $90.52.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same quarter last year, the company posted $2.10 earnings per share. As a group, equities analysts expect that Popular, Inc. will post 8.86 earnings per share for the current year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

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.