CIBC Asset Management Inc Buys 112 Shares of Popular, Inc. (NASDAQ:BPOP)

CIBC Asset Management Inc increased its stake in Popular, Inc. (NASDAQ:BPOP) by 5.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,239 shares of the bank’s stock after acquiring an additional 112 shares during the period. CIBC Asset Management Inc’s holdings in Popular were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BPOP. Capital Performance Advisors LLP bought a new stake in shares of Popular in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group bought a new stake in shares of Popular in the 3rd quarter worth approximately $47,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Popular in the 3rd quarter worth approximately $81,000. R Squared Ltd bought a new stake in shares of Popular in the 4th quarter worth approximately $166,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Popular in the 3rd quarter worth approximately $201,000. Institutional investors own 87.27% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $1,040,200.00. Following the completion of the transaction, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BPOP shares. Royal Bank of Canada boosted their target price on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. UBS Group started coverage on shares of Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

Popular Stock Performance

Popular stock opened at $100.32 on Thursday. The stock has a market cap of $7.15 billion, a P/E ratio of 11.72, a PEG ratio of 0.75 and a beta of 0.82. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.81. The firm’s fifty day moving average price is $98.83 and its 200-day moving average price is $97.90.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Popular, Inc. will post 10.06 earnings per share for the current year.

Popular Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.79%. Popular’s dividend payout ratio (DPR) is presently 32.71%.

Popular Company 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.