Popular (NASDAQ:BPOP) VP Sells 600 Shares of Stock

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 600 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $168.79, for a total value of $101,274.00. Following the sale, the vice president directly owned 2,492 shares in the company, valued at $420,624.68. This trade represents a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Popular Stock Performance

Shares of BPOP stock traded up $0.81 during trading hours on Wednesday, reaching $170.35. The company had a trading volume of 41,437 shares, compared to its average volume of 523,832. The business has a fifty day moving average price of $170.35 and a 200-day moving average price of $153.02. Popular, Inc. has a one year low of $108.74 and a one year high of $179.24. The firm has a market cap of $10.87 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.65 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.34%. The company had revenue of $846.92 million for the quarter, compared to the consensus estimate of $878.41 million. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Equities research analysts forecast that Popular, Inc. will post 15.72 EPS for the current year.

Popular Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Popular’s previous quarterly dividend of $0.75. Popular’s payout ratio is currently 20.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in Popular during the fourth quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Popular in the 4th quarter worth about $28,000. Parallel Advisors LLC raised its position in shares of Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Popular during the 3rd quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Popular in the 4th quarter valued at about $50,000. 87.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BPOP has been the subject of a number of research reports. Barclays upped their price objective on Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Piper Sandler restated an “overweight” rating and set a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Wells Fargo & Company upped their price target on shares of Popular from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Royal Bank Of Canada raised their price objective on shares of Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Benchmark boosted their target price on shares of Popular from $201.00 to $214.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $186.92.

About Popular

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.