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 stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now owns 3,332 shares in the company, valued at $325,569.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Popular Stock Up 0.1 %

NASDAQ:BPOP traded up $0.10 on Friday, hitting $96.04. The stock had a trading volume of 45,129 shares, compared to its average volume of 419,652. The company has a fifty day moving average price of $96.95 and a two-hundred day moving average price of $93.59. Popular, Inc. has a 1-year low of $66.72 and a 1-year high of $105.01. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.63 and a beta of 0.79.

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

Popular Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Hovde Group boosted their price target on shares of Popular from $113.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 price objective (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Royal Bank of Canada reduced their target price on Popular from $108.00 to $96.00 and set an “outperform” rating for the company 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 report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Popular from $117.00 to $104.00 and set an “overweight” 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 given a buy rating to the stock. Based on data from MarketBeat, Popular presently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

Institutional Investors Weigh In On Popular

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in Popular in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in shares of Popular in the third quarter valued at about $35,000. Headlands Technologies LLC acquired a new stake in shares of Popular during the first quarter worth about $42,000. Mather Group LLC. acquired a new stake in shares of Popular during the second quarter worth about $44,000. Finally, Meeder Asset Management Inc. acquired a new position in Popular in the 2nd quarter valued at about $48,000. 87.27% of the stock is owned by hedge funds and other institutional investors.

About Popular

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.