Insider Selling: Popular, Inc. (NASDAQ:BPOP) VP Sells 1,825 Shares of Stock

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 1,825 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total transaction of $178,320.75. Following the completion of the transaction, the vice president now directly owns 3,332 shares in the company, valued at $325,569.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Popular Trading Up 0.1 %

Popular stock traded up $0.10 during midday trading on Friday, hitting $96.04. The stock had a trading volume of 45,129 shares, compared to its average volume of 419,652. The business has a fifty day moving average price of $96.95 and a 200 day moving average price of $93.59. Popular, Inc. has a 12 month low of $66.72 and a 12 month high of $105.01. The stock has a market cap of $6.95 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.63 and a beta of 0.79.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.17). The firm had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a net margin of 12.36% and a return on equity of 11.65%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. On average, equities analysts anticipate that Popular, Inc. will post 8.46 EPS for the current fiscal year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, September 13th. Popular’s dividend payout ratio (DPR) is presently 33.70%.

Institutional Investors Weigh In On Popular

Several institutional investors and hedge funds have recently bought and sold shares of BPOP. Russell Investments Group Ltd. grew its position in shares of Popular by 3.6% during the first quarter. Russell Investments Group Ltd. now owns 294,295 shares of the bank’s stock worth $25,924,000 after acquiring an additional 10,308 shares during the last quarter. Sei Investments Co. lifted its stake in Popular by 2.2% during the first quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after purchasing an additional 6,067 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Popular by 249.1% during the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock worth $2,904,000 after buying an additional 23,436 shares in the last quarter. Algert Global LLC grew its position in Popular by 10.4% in the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after buying an additional 8,317 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Popular by 1.4% in the first quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock valued at $62,402,000 after buying an additional 9,985 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.