Penbrook Management LLC Sells 100 Shares of Popular, Inc. (NASDAQ:BPOP)

Penbrook Management LLC decreased its holdings in Popular, Inc. (NASDAQ:BPOP) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,800 shares of the bank’s stock after selling 100 shares during the period. Popular accounts for approximately 0.9% of Penbrook Management LLC’s holdings, making the stock its 28th biggest holding. Penbrook Management LLC’s holdings in Popular were worth $1,298,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TCW Group Inc. lifted its holdings in shares of Popular by 15.2% in the 3rd quarter. TCW Group Inc. now owns 94,815 shares of the bank’s stock valued at $9,507,000 after acquiring an additional 12,494 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Popular by 7.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after acquiring an additional 71,782 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Popular by 83.9% in the 3rd quarter. Cerity Partners LLC now owns 9,546 shares of the bank’s stock valued at $957,000 after acquiring an additional 4,354 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Popular by 279.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,798 shares of the bank’s stock valued at $3,890,000 after acquiring an additional 28,574 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Popular by 284.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock valued at $7,260,000 after acquiring an additional 53,590 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Insiders Place Their Bets

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of Popular stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now directly owns 3,332 shares of the company’s stock, valued at approximately $325,569.72. The trade was a 35.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the transaction, the executive vice president now directly owns 25,115 shares in the company, valued at $2,490,403.40. This represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Popular Stock Up 1.2 %

Shares of BPOP stock opened at $103.72 on Thursday. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.65 and a beta of 0.81. The company’s 50 day moving average is $97.03 and its 200 day moving average is $97.35. Popular, Inc. has a 52-week low of $80.60 and a 52-week high of $106.46.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 12.36% and a return on equity of 11.35%. Analysts anticipate that Popular, Inc. will post 8.41 EPS for the current fiscal year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, December 6th. Popular’s payout ratio is currently 32.71%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler decreased their price objective 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. Barclays raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Popular from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.63.

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.