Popular, Inc. $BPOP Holdings Lowered by Jacobs Asset Management LLC

Jacobs Asset Management LLC trimmed its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 47.5% in the 4th quarter, HoldingsChannel reports. The firm owned 50,000 shares of the bank’s stock after selling 45,153 shares during the quarter. Popular makes up about 3.5% of Jacobs Asset Management LLC’s portfolio, making the stock its 14th biggest position. Jacobs Asset Management LLC’s holdings in Popular were worth $6,226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BPOP. Acumen Wealth Advisors LLC purchased a new stake in Popular in the 4th quarter worth about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Popular during the 4th quarter worth about $28,000. Parallel Advisors LLC raised its stake in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Popular in the third quarter worth $31,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Popular in the fourth quarter worth $50,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Trading Up 1.3%

NASDAQ BPOP opened at $160.95 on Friday. The stock has a 50-day simple moving average of $148.25 and a 200 day simple moving average of $136.32. The company has a market capitalization of $10.39 billion, a PE ratio of 11.89, a P/E/G ratio of 0.80 and a beta of 0.62. Popular, Inc. has a 12 month low of $102.56 and a 12 month high of $161.26.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.48. The business had revenue of $816.08 million during the quarter, compared to the consensus estimate of $866.54 million. Popular had a return on equity of 14.53% and a net margin of 20.10%.During the same quarter in the prior year, the company posted $2.56 earnings per share. As a group, sell-side analysts predict that Popular, Inc. will post 15.14 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 29th. Popular’s dividend payout ratio is presently 22.16%.

Analyst Ratings Changes

A number of research firms have issued reports on BPOP. Royal Bank Of Canada raised their target price on Popular from $141.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price objective on Popular from $155.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Piper Sandler boosted their price target on Popular from $156.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Barclays boosted their price objective on Popular from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $168.73.

Insider Buying and Selling

In related news, Director Alejandro M. Sanchez sold 300 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares of the company’s stock, valued at approximately $595,425.60. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alejandro M. Ballester sold 23,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $150.00, for a total value of $3,450,000.00. Following the sale, the director directly owned 34,588 shares of the company’s stock, valued at approximately $5,188,200. The trade was a 39.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,500 shares of company stock valued at $4,415,870. 2.13% of the stock is owned by corporate insiders.

Popular Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.