Popular, Inc. (NASDAQ:BPOP) Position Trimmed by Summit Global Investments

Summit Global Investments decreased its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 31.7% in the 4th quarter, Holdings Channel reports. The firm owned 14,319 shares of the bank’s stock after selling 6,656 shares during the quarter. Summit Global Investments’ holdings in Popular were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in Popular during the fourth quarter valued at $27,000. Picton Mahoney Asset Management increased its stake in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. Brooklyn Investment Group bought a new stake in Popular during the third quarter valued at $47,000. Smartleaf Asset Management LLC increased its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after purchasing an additional 218 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Popular during the third quarter valued at $81,000. Institutional investors own 87.27% of the company’s stock.

Popular Stock Up 1.3 %

Shares of BPOP opened at $91.37 on Friday. The firm has a 50-day moving average price of $98.48 and a 200 day moving average price of $97.12. The firm has a market capitalization of $6.36 billion, a PE ratio of 10.67, a P/E/G ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.81.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (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%. On average, equities analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, March 18th. Popular’s payout ratio is 32.71%.

Insider Buying and Selling at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the company’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 directly owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’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 sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped 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. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. UBS Group assumed coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target for the company. Barclays upped 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

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.