Natixis Has $3.34 Million Stake in Popular, Inc. (NASDAQ:BPOP)

Natixis lowered its position in Popular, Inc. (NASDAQ:BPOP) by 26.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,490 shares of the bank’s stock after selling 12,901 shares during the quarter. Natixis’ holdings in Popular were worth $3,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Popular by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after purchasing an additional 71,782 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after acquiring an additional 218 shares during the period. KBC Group NV increased its holdings in shares of Popular by 1,719.6% during the 4th quarter. KBC Group NV now owns 37,775 shares of the bank’s stock worth $3,553,000 after acquiring an additional 35,699 shares during the last quarter. MML Investors Services LLC bought a new stake in Popular in the 3rd quarter valued at $216,000. Finally, Franklin Resources Inc. lifted its holdings in Popular by 304.3% during the 3rd quarter. Franklin Resources Inc. now owns 99,861 shares of the bank’s stock valued at $10,042,000 after purchasing an additional 75,164 shares during the last quarter. Institutional investors own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BPOP. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Saturday, April 12th. Royal Bank of Canada increased their price target on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upgraded Popular from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $110.00 to $100.00 in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.57.

Insider Transactions at Popular

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

Popular Price Performance

Popular stock opened at $86.08 on Tuesday. The firm has a market cap of $5.97 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The stock’s fifty day moving average price is $91.95 and its two-hundred day moving average price is $95.31. Popular, Inc. has a one year low of $78.23 and a one year high of $106.81.

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

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular’s dividend payout ratio (DPR) is presently 32.71%.

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.