Rock Point Advisors LLC cut its holdings in shares of Popular Inc (NASDAQ:BPOP) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,970 shares of the bank’s stock after selling 13,775 shares during the period. Popular makes up 1.8% of Rock Point Advisors LLC’s holdings, making the stock its 23rd biggest holding. Rock Point Advisors LLC’s holdings in Popular were worth $3,804,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of BPOP. Nkcfo LLC bought a new stake in shares of Popular during the fourth quarter worth about $28,000. Captrust Financial Advisors bought a new stake in shares of Popular during the fourth quarter worth about $30,000. First Hawaiian Bank increased its position in shares of Popular by 167.5% during the fourth quarter. First Hawaiian Bank now owns 1,030 shares of the bank’s stock worth $49,000 after acquiring an additional 645 shares in the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Popular during the fourth quarter worth about $52,000. Finally, Toronto Dominion Bank bought a new stake in shares of Popular during the fourth quarter worth about $71,000. 87.64% of the stock is owned by institutional investors.
In other Popular news, insider Carlos J. Vazquez sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $55.48, for a total value of $221,920.00. Following the completion of the sale, the insider now directly owns 106,352 shares of the company’s stock, valued at approximately $5,900,408.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.33% of the company’s stock.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, April 18th. The bank reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.24. Popular had a net margin of 24.69% and a return on equity of 10.58%. The business had revenue of $607.39 million during the quarter, compared to the consensus estimate of $603.70 million. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities analysts predict that Popular Inc will post 6.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, May 28th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, May 24th. Popular’s payout ratio is 25.16%.
BPOP has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Popular from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research downgraded shares of Popular from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Finally, BTIG Research upped their price objective on shares of Popular to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.71.
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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