Public Employees Retirement Association of Colorado Decreases Stake in Popular Inc (BPOP)

Public Employees Retirement Association of Colorado reduced its holdings in Popular Inc (NASDAQ:BPOP) by 18.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,766 shares of the bank’s stock after selling 3,606 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Popular were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc increased its position in Popular by 4.5% during the third quarter. Vanguard Group Inc now owns 9,585,130 shares of the bank’s stock worth $491,239,000 after purchasing an additional 412,087 shares during the last quarter. Polaris Capital Management LLC increased its position in shares of Popular by 4.5% during the fourth quarter. Polaris Capital Management LLC now owns 4,187,495 shares of the bank’s stock valued at $197,734,000 after acquiring an additional 178,824 shares during the last quarter. Norges Bank acquired a new stake in shares of Popular during the fourth quarter valued at about $64,758,000. Bank of New York Mellon Corp boosted its stake in shares of Popular by 108.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock valued at $50,847,000 after purchasing an additional 559,566 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Popular by 5,001.3% in the fourth quarter. APG Asset Management N.V. now owns 790,700 shares of the bank’s stock valued at $32,661,000 after purchasing an additional 775,200 shares during the period. 89.18% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Maria Luisa Ferre sold 3,046 shares of Popular stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $56.43, for a total value of $171,885.78. Following the completion of the transaction, the director now owns 34,224 shares in the company, valued at $1,931,260.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carlos J. Vazquez sold 4,000 shares of Popular stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $55.48, for a total transaction of $221,920.00. Following the completion of the transaction, the insider now owns 106,352 shares of the company’s stock, valued at approximately $5,900,408.96. The disclosure for this sale can be found here. 1.33% of the stock is owned by insiders.

NASDAQ BPOP opened at $54.98 on Tuesday. Popular Inc has a one year low of $44.22 and a one year high of $58.99. The company has a market capitalization of $5.50 billion, a PE ratio of 11.53 and a beta of 1.20.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.24. Popular had a net margin of 24.69% and a return on equity of 10.64%. The business had revenue of $607.39 million during the quarter, compared to analyst estimates of $603.70 million. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, sell-side analysts expect that Popular Inc will post 6.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, May 28th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.18%. Popular’s dividend payout ratio is currently 25.16%.

BPOP has been the subject of several recent research reports. Zacks Investment Research lowered shares of Popular from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. BidaskClub raised shares of Popular from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, BTIG Research raised their price objective on shares of Popular to $66.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $59.71.

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Popular Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. 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, automobile loans, 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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