Penbrook Management LLC Trims Stock Position in Popular, Inc. $BPOP

Penbrook Management LLC cut its stake in Popular, Inc. (NASDAQ:BPOP) by 53.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,500 shares of the bank’s stock after selling 6,350 shares during the period. Penbrook Management LLC’s holdings in Popular were worth $738,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Lighthouse Investment Partners LLC increased its stake in Popular by 140.1% in the third quarter. Lighthouse Investment Partners LLC now owns 45,170 shares of the bank’s stock valued at $5,737,000 after purchasing an additional 26,354 shares during the period. Ceeto Capital Group LLC acquired a new stake in shares of Popular during the third quarter worth about $29,115,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Popular by 112.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 44,616 shares of the bank’s stock worth $5,620,000 after buying an additional 23,584 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Popular by 10.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock worth $23,369,000 after buying an additional 17,148 shares during the last quarter. Finally, Fieldview Capital Management LLC grew its holdings in shares of Popular by 67.5% during the third quarter. Fieldview Capital Management LLC now owns 37,436 shares of the bank’s stock worth $4,755,000 after buying an additional 15,081 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alejandro M. Sanchez sold 300 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total value of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares in the company, valued at approximately $595,425.60. The trade was a 7.04% 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 Maria Cristin Gonzalez-Noguera sold 6,200 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total value of $920,762.00. Following the sale, the executive vice president owned 11,255 shares of the company’s stock, valued at approximately $1,671,480.05. The trade was a 35.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 29,500 shares of company stock valued at $4,415,870. Company insiders own 2.13% of the company’s stock.

Popular Price Performance

NASDAQ BPOP opened at $167.19 on Friday. Popular, Inc. has a 1-year low of $108.18 and a 1-year high of $169.14. The company has a market capitalization of $10.79 billion, a P/E ratio of 12.35, a PEG ratio of 0.83 and a beta of 0.62. The business has a 50 day moving average price of $151.73 and a 200 day moving average price of $139.43.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, topping the consensus estimate of $3.30 by $0.48. Popular had a net margin of 20.10% and a return on equity of 14.53%. The business had revenue of $816.08 million for the quarter, compared to analyst estimates of $866.54 million. During the same period in the previous year, the firm earned $2.56 EPS. On average, research analysts expect that Popular, Inc. will post 15.14 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. Popular’s dividend payout ratio (DPR) is 22.16%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BPOP shares. Keefe, Bruyette & Woods upped their price target on Popular from $155.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays lifted their price objective on shares of Popular from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. UBS Group boosted their price objective on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wells Fargo & Company upped their price objective on shares of Popular from $135.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Finally, Weiss Ratings upgraded shares of Popular from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Popular has an average rating of “Buy” and an average target price of $169.64.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.