Popular, Inc. (NASDAQ:BPOP) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC decreased its position in Popular, Inc. (NASDAQ:BPOP) by 4.8% in the 1st quarter, Holdings Channel reports. The fund owned 148,699 shares of the bank’s stock after selling 7,445 shares during the period. Kennedy Capital Management LLC’s holdings in Popular were worth $13,099,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BPOP. Norges Bank bought a new position in Popular during the fourth quarter worth $66,881,000. Principal Financial Group Inc. lifted its stake in Popular by 57.2% during the first quarter. Principal Financial Group Inc. now owns 1,008,732 shares of the bank’s stock worth $88,859,000 after purchasing an additional 366,870 shares during the last quarter. Verition Fund Management LLC lifted its stake in Popular by 395.0% during the fourth quarter. Verition Fund Management LLC now owns 429,197 shares of the bank’s stock worth $35,224,000 after purchasing an additional 342,492 shares during the last quarter. Fourth Sail Capital LP bought a new position in Popular during the fourth quarter worth $22,184,000. Finally, Jupiter Asset Management Ltd. bought a new position in Popular during the first quarter worth $19,997,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Ratings Changes

BPOP has been the topic of a number of recent research reports. Hovde Group raised their target price on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on Popular from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Piper Sandler raised their target price on Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company raised their target price on Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.22.

Popular Stock Performance

BPOP traded up $2.13 during trading on Tuesday, reaching $104.28. The company had a trading volume of 380,139 shares, compared to its average volume of 394,994. The firm’s 50-day simple moving average is $90.20 and its 200 day simple moving average is $87.04. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.85 and a beta of 0.80. Popular, Inc. has a 12-month low of $59.27 and a 12-month high of $105.01.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $751.57 million. Popular had a return on equity of 12.00% and a net margin of 12.20%. During the same quarter last year, the business posted $2.10 EPS. On average, sell-side analysts expect that Popular, Inc. will post 8.41 EPS for the current year.

Popular Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, May 30th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, May 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.38%. Popular’s payout ratio is presently 36.80%.

Insiders Place Their Bets

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

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.