Popular, Inc. (NASDAQ:BPOP) Position Increased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in Popular, Inc. (NASDAQ:BPOP) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,033 shares of the bank’s stock after buying an additional 544 shares during the period. New York Life Investment Management LLC’s holdings in Popular were worth $659,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Popular in the 4th quarter worth $44,000. GAMMA Investing LLC acquired a new position in shares of Popular in the 4th quarter valued at $90,000. Assetmark Inc. increased its stake in Popular by 55.4% in the 3rd quarter. Assetmark Inc. now owns 1,420 shares of the bank’s stock worth $89,000 after purchasing an additional 506 shares in the last quarter. Xponance Inc. purchased a new stake in Popular during the fourth quarter valued at about $206,000. Finally, Wedmont Private Capital acquired a new position in shares of Popular in the fourth quarter worth about $211,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now owns 26,772 shares in the company, valued at approximately $2,260,092.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.13% of the company’s stock.

Popular Price Performance

BPOP opened at $90.30 on Thursday. The company has a market capitalization of $6.53 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.81. The business has a 50-day moving average of $85.26 and a 200-day moving average of $80.52. Popular, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $90.74.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Thursday, March 14th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is presently 36.80%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BPOP. Hovde Group boosted their price target on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Citigroup increased their target price on Popular from $103.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. StockNews.com upgraded Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Barclays increased their price objective on Popular from $99.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.89.

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.