Popular (NASDAQ:BPOP) EVP Lidio Soriano Sells 3,000 Shares

Popular, Inc. (NASDAQ:BPOP) EVP Lidio Soriano sold 3,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $174.50, for a total value of $523,500.00. Following the completion of the sale, the executive vice president owned 107,320 shares in the company, valued at approximately $18,727,340. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Popular Trading Up 0.5%

NASDAQ:BPOP opened at $174.84 on Wednesday. Popular, Inc. has a twelve month low of $108.74 and a twelve month high of $179.00. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The stock has a fifty day simple moving average of $166.94 and a 200-day simple moving average of $150.13.

Popular (NASDAQ:BPOP) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. The firm had revenue of $846.92 million for the quarter, compared to analysts’ expectations of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same period in the prior year, the business posted $3.09 earnings per share. As a group, equities research analysts predict that Popular, Inc. will post 15.72 EPS for the current fiscal year.

Institutional Trading of Popular

A number of hedge funds have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC bought a new position in Popular during the 2nd quarter worth about $1,067,000. Foster & Motley Inc. bought a new stake in shares of Popular in the 2nd quarter valued at about $780,000. Bank of New York Mellon Corp bought a new stake in shares of Popular in the 2nd quarter valued at about $54,916,000. Insight Wealth Strategies LLC purchased a new stake in shares of Popular in the 2nd quarter worth approximately $6,914,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Popular by 108.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 149,094 shares of the bank’s stock worth $24,478,000 after purchasing an additional 77,507 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BPOP shares. Keefe, Bruyette & Woods upped their target price on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Truist Financial lifted their price target on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup boosted their price target on Popular from $178.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Piper Sandler reissued an “overweight” rating and issued a $198.00 price objective (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their price objective on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $186.92.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.