Frontier Capital Management Co. LLC Sells 240,016 Shares of Popular Inc (BPOP)

Frontier Capital Management Co. LLC lowered its position in Popular Inc (NASDAQ:BPOP) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,331,106 shares of the bank’s stock after selling 240,016 shares during the period. Frontier Capital Management Co. LLC’s holdings in Popular were worth $119,469,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in Popular in the second quarter worth approximately $118,000. Cerebellum GP LLC bought a new position in Popular in the second quarter worth approximately $176,000. Sun Life Financial INC bought a new position in Popular in the second quarter worth approximately $206,000. Balasa Dinverno & Foltz LLC bought a new position in Popular in the third quarter worth approximately $212,000. Finally, Allianz Asset Management GmbH bought a new position in Popular in the first quarter worth approximately $240,000. Institutional investors and hedge funds own 87.65% of the company’s stock.

Shares of BPOP traded up $0.49 on Tuesday, reaching $51.15. 3,540 shares of the company’s stock traded hands, compared to its average volume of 839,136. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 19.05 and a beta of 1.14. Popular Inc has a 52-week low of $32.27 and a 52-week high of $53.00.



Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.20. The company had revenue of $602.49 million during the quarter, compared to the consensus estimate of $586.10 million. Popular had a return on equity of 8.17% and a net margin of 16.32%. During the same period last year, the business posted $0.19 earnings per share. Sell-side analysts anticipate that Popular Inc will post 4.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Thursday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, September 12th. Popular’s payout ratio is 37.31%.

In related news, Director Alejandro M. Ballester sold 2,536 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $50.34, for a total transaction of $127,662.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Luisa Ferre sold 22,797 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $50.12, for a total value of $1,142,585.64. The disclosure for this sale can be found here. Insiders have sold 36,005 shares of company stock valued at $1,806,936 over the last ninety days. 1.38% of the stock is currently owned by company insiders.

Several brokerages have issued reports on BPOP. Zacks Investment Research upgraded Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a report on Friday. Barclays increased their price target on Popular from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 24th. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a report on Saturday. Sandler O’Neill reiterated a “buy” rating and issued a $58.00 price target on shares of Popular in a report on Monday, July 23rd. Finally, Citigroup increased their price target on Popular from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $54.39.

Popular Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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