Ethic Inc. Reduces Holdings in Popular, Inc. (NASDAQ:BPOP)

Ethic Inc. trimmed its position in shares of Popular, Inc. (NASDAQ:BPOP) by 17.1% in the 4th quarter, according to 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 quarter. Ethic Inc.’s holdings in Popular were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc lifted its position in shares of Popular by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock worth $211,000 after purchasing an additional 112 shares during the last quarter. Picton Mahoney Asset Management grew its stake in 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 purchasing an additional 118 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock worth $1,971,000 after acquiring an additional 143 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Popular by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,357 shares of the bank’s stock worth $2,949,000 after acquiring an additional 190 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock worth $2,888,000 after acquiring an additional 214 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors.

Popular Trading Up 0.3%

NASDAQ BPOP opened at $104.79 on Friday. The stock has a market cap of $7.27 billion, a PE ratio of 12.24, a P/E/G ratio of 0.75 and a beta of 0.60. Popular, Inc. has a twelve month low of $78.23 and a twelve month high of $106.81. The stock has a fifty day simple moving average of $91.62 and a 200-day simple moving average of $95.56.

Popular (NASDAQ:BPOP) last announced its 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 company had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. During the same period last year, the business posted $1.43 EPS. Popular’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts predict that Popular, Inc. will post 10.06 EPS for the current year.

Popular Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Popular from $122.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Hovde Group reduced their target price on Popular from $118.00 to $114.00 and set an “outperform” rating for the company 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 note on Thursday. Wells Fargo & Company raised Popular from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $110.00 to $100.00 in a research note on Wednesday, April 9th. Finally, Barclays reissued an “overweight” rating and issued a $125.00 price objective (up from $115.00) on shares of Popular in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.43.

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.