Popular, Inc. (NASDAQ:BPOP) Shares Sold by Ethic Inc.

Ethic Inc. decreased its position in shares of Popular, Inc. (NASDAQ:BPOP) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,892 shares of the bank’s stock after selling 1,011 shares during the period. Ethic Inc.’s holdings in Popular were worth $460,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Popular in the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management boosted its stake in shares of Popular by 56.7% in the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after buying an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares in the last quarter. R Squared Ltd purchased a new stake in Popular during the fourth quarter worth $166,000. Finally, Yousif Capital Management LLC purchased a new stake in Popular during the fourth quarter worth $202,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays reissued an “overweight” rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a report on Thursday, April 24th. StockNews.com lowered Popular from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Piper Sandler upped their target price on Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price target on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Popular currently has an average rating of “Moderate Buy” and a consensus price target of $114.43.

Popular Stock Performance

Shares of BPOP opened at $104.79 on Friday. The company has a market capitalization of $7.27 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.75 and a beta of 0.60. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81. The stock has a 50-day moving average price of $91.62 and a 200 day moving average price of $95.56.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million during the quarter, compared to the consensus estimate of $760.45 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. Popular’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 29th. Popular’s payout ratio is currently 28.90%.

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.