Popular, Inc. (NASDAQ:BPOP) Shares Sold by Savant Capital LLC

Savant Capital LLC trimmed its holdings in Popular, Inc. (NASDAQ:BPOP) by 60.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,541 shares of the bank’s stock after selling 6,920 shares during the period. Savant Capital LLC’s holdings in Popular were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC grew its holdings in shares of Popular by 235.5% in the third quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock valued at $33,299,000 after purchasing an additional 233,119 shares during the period. Soros Fund Management LLC purchased a new stake in shares of Popular in the third quarter valued at about $9,115,000. Jacobs Levy Equity Management Inc. boosted its stake in Popular by 18.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock worth $54,954,000 after buying an additional 84,839 shares during the period. Point72 Asset Management L.P. purchased a new position in Popular during the third quarter worth about $8,385,000. Finally, Franklin Resources Inc. boosted its stake in Popular by 304.3% during the third quarter. Franklin Resources Inc. now owns 99,861 shares of the bank’s stock worth $10,042,000 after buying an additional 75,164 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Stock Performance

NASDAQ BPOP opened at $104.41 on Monday. The firm has a 50 day simple moving average of $97.92 and a 200-day simple moving average of $97.51. Popular, Inc. has a one year low of $80.60 and a one year high of $106.46. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Insider Activity at Popular

In other Popular news, EVP Gilberto Monzon sold 9,600 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares in the company, valued at $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group assumed coverage on shares of Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price for the company. Barclays increased their target price on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

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.