Price T Rowe Associates Inc. MD Sells 190,264 Shares of Popular, Inc. (NASDAQ:BPOP)

Price T Rowe Associates Inc. MD trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,099,467 shares of the bank’s stock after selling 190,264 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Popular worth $361,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Popular in the first quarter worth $42,000. Principal Securities Inc. bought a new position in shares of Popular during the fourth quarter valued at about $83,000. GAMMA Investing LLC purchased a new stake in shares of Popular during the fourth quarter worth about $90,000. Clear Street Markets LLC bought a new stake in shares of Popular in the fourth quarter worth about $139,000. Finally, CWM LLC increased its holdings in Popular by 164.8% during the 1st quarter. CWM LLC now owns 1,769 shares of the bank’s stock valued at $156,000 after purchasing an additional 1,101 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Trading Up 0.6 %

BPOP traded up $0.57 during trading on Friday, hitting $102.78. 410,296 shares of the company’s stock traded hands, compared to its average volume of 409,307. Popular, Inc. has a 12-month low of $59.27 and a 12-month high of $105.01. The company’s 50 day simple moving average is $89.97 and its two-hundred day simple moving average is $86.86. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.85 and a beta of 0.80.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.08 by $0.38. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $751.57 million. Popular had a return on equity of 12.00% and a net margin of 12.20%. During the same period last year, the company earned $2.10 EPS. On average, equities analysts expect that Popular, Inc. will post 8.41 EPS for the current year.

Popular Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, May 30th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.41%. Popular’s payout ratio is 36.80%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Hovde Group upped their target price on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price target (up from $110.00) on shares of Popular in a research note on Thursday. Barclays increased 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. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Piper Sandler boosted their price target on Popular from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Popular has a consensus rating of “Moderate Buy” and a consensus target price of $105.22.

Insider Activity at Popular

In other Popular news, EVP Gilberto Monzon sold 5,000 shares of Popular stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.80, for a total value of $429,000.00. Following the completion of the sale, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Gilberto Monzon sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $85.80, for a total transaction of $429,000.00. Following the completion of the sale, the executive vice president now owns 48,320 shares of the company’s stock, valued at approximately $4,145,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manuel Chinea sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $90.70, for a total transaction of $1,088,400.00. Following the sale, the executive vice president now directly owns 27,086 shares of the company’s stock, valued at $2,456,700.20. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

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.