Popular, Inc. (NASDAQ:BPOP) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lowered its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,087 shares of the bank’s stock after selling 291 shares during the period. Foster & Motley Inc.’s holdings in Popular were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new position in shares of Popular in the fourth quarter valued at approximately $44,000. Assetmark Inc. raised its position in shares of Popular by 55.4% in the third quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock valued at $89,000 after buying an additional 506 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in Popular during the third quarter worth about $142,000. NBC Securities Inc. acquired a new stake in Popular in the 3rd quarter valued at about $202,000. Finally, Park Avenue Securities LLC purchased a new position in Popular in the 3rd quarter worth approximately $206,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Popular

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

Analysts Set New Price Targets

Several equities research analysts recently commented on BPOP shares. Keefe, Bruyette & Woods increased their price target on Popular from $95.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, January 26th. UBS Group raised their price target on shares of Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Royal Bank of Canada upped their price objective on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Barclays started coverage on Popular in a research note on Friday, March 8th. They set an “overweight” rating and a $99.00 target price for the company. Finally, Piper Sandler upped their price target on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.00.

Popular Price Performance

Shares of Popular stock opened at $87.88 on Wednesday. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 11.67 and a beta of 0.82. The business has a 50-day moving average of $84.45 and a 200 day moving average of $78.77. Popular, Inc. has a 12 month low of $52.32 and a 12 month high of $89.70.

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

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is 32.93%.

Popular Company 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.