Popular, Inc. (NASDAQ:BPOP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in Popular, Inc. (NASDAQ:BPOP) by 37.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,418 shares of the bank’s stock after selling 845 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Popular were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Popular by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,599,881 shares of the bank’s stock valued at $226,829,000 after purchasing an additional 642,694 shares during the period. American Century Companies Inc. boosted its position in shares of Popular by 64.9% during the third quarter. American Century Companies Inc. now owns 726,743 shares of the bank’s stock worth $45,792,000 after buying an additional 286,119 shares during the period. rhino investment partners Inc grew its holdings in Popular by 145.1% in the 3rd quarter. rhino investment partners Inc now owns 478,004 shares of the bank’s stock worth $30,119,000 after buying an additional 283,004 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in Popular in the 3rd quarter valued at approximately $11,555,000. Finally, AQR Capital Management LLC raised its stake in Popular by 41.1% during the 3rd quarter. AQR Capital Management LLC now owns 597,799 shares of the bank’s stock valued at $37,667,000 after acquiring an additional 174,225 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insider Transactions at Popular

In related news, EVP Luis E. Cestero sold 599 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Popular news, EVP Luis E. Cestero sold 599 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $85.65, for a total transaction of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $2,272,208.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Luis E. Cestero sold 4,641 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the completion of the transaction, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Popular Stock Performance

Shares of NASDAQ:BPOP opened at $86.58 on Monday. The company has a market capitalization of $6.26 billion, a PE ratio of 12.85 and a beta of 0.82. The stock has a fifty day moving average of $84.61 and a 200-day moving average of $79.26. Popular, Inc. has a one year low of $52.32 and a one year high of $89.70.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, January 25th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a return on equity of 11.95% and a net margin of 11.95%. As a group, research analysts forecast that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s payout ratio is 36.80%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays increased their price target on Popular from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup increased their price objective on shares of Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Hovde Group boosted their target price on Popular from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

About Popular

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.