Salzhauer Michael Sells 5,000 Shares of Popular, Inc. (NASDAQ:BPOP)

Salzhauer Michael cut its stake in shares of Popular, Inc. (NASDAQ:BPOP) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,924 shares of the bank’s stock after selling 5,000 shares during the period. Salzhauer Michael’s holdings in Popular were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BPOP. Meeder Asset Management Inc. increased its position in Popular by 95.7% in the second quarter. Meeder Asset Management Inc. now owns 32,701 shares of the bank’s stock valued at $1,363,000 after buying an additional 15,991 shares during the last quarter. Nuveen Asset Management LLC increased its position in Popular by 85.4% in the first quarter. Nuveen Asset Management LLC now owns 189,744 shares of the bank’s stock valued at $7,728,000 after buying an additional 87,400 shares during the last quarter. Piedmont Investment Advisors LLC increased its position in Popular by 131.2% in the first quarter. Piedmont Investment Advisors LLC now owns 33,911 shares of the bank’s stock valued at $1,381,000 after buying an additional 19,241 shares during the last quarter. Point72 Asset Management L.P. increased its position in Popular by 37.2% in the first quarter. Point72 Asset Management L.P. now owns 333,200 shares of the bank’s stock valued at $13,571,000 after buying an additional 90,300 shares during the last quarter. Finally, Point72 Europe London LLP increased its position in Popular by 165.2% in the first quarter. Point72 Europe London LLP now owns 906,306 shares of the bank’s stock valued at $36,914,000 after buying an additional 564,544 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Shares of Popular, Inc. (BPOP) traded down 1.10% on Friday, reaching $39.68. The company had a trading volume of 369,570 shares. The company has a 50 day moving average price of $41.48 and a 200 day moving average price of $41.17. Popular, Inc. has a 52-week low of $35.08 and a 52-week high of $45.96. The stock has a market capitalization of $4.05 billion, a PE ratio of 17.92 and a beta of 1.28.

Popular (NASDAQ:BPOP) last released its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Popular had a net margin of 11.57% and a return on equity of 7.11%. The business had revenue of $491.27 million during the quarter, compared to analysts’ expectations of $500.66 million. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities research analysts anticipate that Popular, Inc. will post $3.84 earnings per share for the current year.

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Several research firms have weighed in on BPOP. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price target on shares of Popular in a research report on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up previously from $42.00) on shares of Popular in a research report on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and set a $51.00 price target on shares of Popular in a research report on Thursday, June 29th. Zacks Investment Research upgraded Popular from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, July 10th. Finally, BidaskClub upgraded Popular from a “sell” rating to a “hold” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $47.83.

In related news, insider Eduardo J. Negron sold 2,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $39.98, for a total value of $99,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jorge J. Garcia sold 4,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $38.15, for a total transaction of $152,600.00. Following the completion of the sale, the vice president now owns 11,502 shares of the company’s stock, valued at approximately $438,801.30. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.

Popular Company Profile

Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.

Institutional Ownership by Quarter for Popular (NASDAQ:BPOP)

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