Zurcher Kantonalbank Zurich Cantonalbank Buys 1,504 Shares of Popular, Inc. (NASDAQ:BPOP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Popular, Inc. (NASDAQ:BPOP) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,454 shares of the bank’s stock after acquiring an additional 1,504 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Popular were worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BPOP. Wellington Management Group LLP grew its stake in shares of Popular by 21.7% in the third quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock worth $226,829,000 after acquiring an additional 642,694 shares during the period. American Century Companies Inc. boosted its holdings in shares of Popular by 64.9% in the third quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock worth $45,792,000 after buying an additional 286,119 shares during the last quarter. rhino investment partners Inc boosted its holdings in shares of Popular by 145.1% in the third quarter. rhino investment partners Inc now owns 478,004 shares of the bank’s stock worth $30,119,000 after buying an additional 283,004 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Popular in the third quarter worth approximately $11,555,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Popular by 41.1% in the third quarter. AQR Capital Management LLC now owns 597,799 shares of the bank’s stock worth $37,667,000 after buying an additional 174,225 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Insider Transactions at Popular

In other news, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Analyst Upgrades and Downgrades

BPOP has been the topic of a number of research reports. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Royal Bank of Canada raised their price objective on shares of Popular from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Barclays raised their price objective on shares of Popular from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their price target on shares of Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Hovde Group lifted their price target on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.89.

Popular Stock Performance

BPOP stock opened at $86.58 on Friday. Popular, Inc. has a one year low of $52.32 and a one year high of $89.70. The company’s fifty day moving average price is $84.61 and its 200-day moving average price is $79.05. The company has a market capitalization of $6.26 billion, a PE ratio of 12.85 and a beta of 0.82.

Popular (NASDAQ:BPOP) last released its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.05 by $0.89. Popular had a net margin of 11.95% and a return on equity of 11.95%. The firm had revenue of $702.92 million for the quarter, compared to the consensus estimate of $699.76 million. On average, research analysts predict that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Thursday, March 14th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 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.