Popular, Inc. (NASDAQ:BPOP) EVP Sells $347,060.00 in Stock

by · The Cerbat Gem

Popular, Inc. (NASDAQ:BPOP – Get Free Report) EVP Beatriz Castellvi sold 3,500 shares of Popular stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $99.16, for a total value of $347,060.00. Following the transaction, the executive vice president now owns 25,115 shares in the company, valued at $2,490,403.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Popular Price Performance

Popular stock opened at $94.33 on Monday. The firm has a 50-day moving average of $96.78 and a 200-day moving average of $93.70. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.78 and a beta of 0.79. Popular, Inc. has a one year low of $66.72 and a one year high of $105.01.

Popular (NASDAQ:BPOP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.65%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. As a group, sell-side analysts expect that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. Popular’s payout ratio is 33.70%.

Analyst Ratings Changes

BPOP has been the topic of several research analyst reports. Hovde Group raised their target price on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company dropped their price objective on shares of Popular from $105.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Piper Sandler reduced their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price target on Popular from $108.00 to $96.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price target (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

Check Out Our Latest Analysis on BPOP

Institutional Trading of Popular

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Popular by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 1,218,828 shares of the bank’s stock valued at $107,781,000 after purchasing an additional 113,838 shares during the period. Principal Financial Group Inc. increased its position in Popular by 7.3% during the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock worth $105,769,000 after buying an additional 71,782 shares during the last quarter. AQR Capital Management LLC raised its stake in Popular by 23.6% in the second quarter. AQR Capital Management LLC now owns 859,794 shares of the bank’s stock valued at $75,129,000 after buying an additional 164,270 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Popular by 52.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 835,311 shares of the bank’s stock valued at $73,867,000 after buying an additional 286,450 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Popular by 2.1% during the 1st quarter. Earnest Partners LLC now owns 713,923 shares of the bank’s stock worth $62,889,000 after acquiring an additional 14,810 shares during the period. 87.27% of the stock is owned by institutional investors.

About Popular

(Get Free Report)

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.

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