Popular, Inc. (NASDAQ:BPOP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Popular, Inc. (NASDAQ:BPOP) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,636 shares of the bank’s stock after acquiring an additional 3,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Popular were worth $1,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BPOP. KBC Group NV lifted its position in Popular by 19.0% during the third quarter. KBC Group NV now owns 2,076 shares of the bank’s stock valued at $208,000 after buying an additional 331 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Popular during the third quarter valued at approximately $213,000. Thrivent Financial for Lutherans lifted its position in Popular by 284.9% during the third quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock valued at $7,260,000 after buying an additional 53,590 shares in the last quarter. LMR Partners LLP acquired a new position in Popular during the third quarter valued at approximately $443,000. Finally, Baron Wealth Management LLC acquired a new position in Popular during the third quarter valued at approximately $227,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Trading Up 0.4 %

Shares of NASDAQ:BPOP opened at $90.44 on Tuesday. The company has a fifty day simple moving average of $98.77 and a 200 day simple moving average of $97.41. The firm has a market cap of $6.30 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. Popular, Inc. has a 12-month low of $80.60 and a 12-month high of $106.81.

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

Popular Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Popular’s dividend payout ratio (DPR) is presently 32.71%.

Insider Buying and Selling

In other Popular news, EVP Eduardo J. Negron sold 10,000 shares of the business’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 sale, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the sale, the executive vice president now owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BPOP. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group initiated coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

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.