Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez Sells 1,825 Shares

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 1,825 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $325,569.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Popular Stock Down 1.7 %

Shares of NASDAQ BPOP opened at $94.33 on Friday. Popular, Inc. has a fifty-two week low of $66.72 and a fifty-two week high of $105.01. The business has a 50 day moving average price of $96.78 and a two-hundred day moving average price of $93.65. The firm has a market cap of $6.82 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79.

Popular (NASDAQ:BPOP) last issued 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). Popular had a net margin of 12.36% and a return on equity of 11.65%. The firm had revenue of $736.56 million during the quarter, compared to the consensus estimate of $766.62 million. During the same quarter last year, the firm posted $1.90 earnings per share. Popular’s revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Popular, Inc. will post 8.46 earnings per share for the current year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given 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 dividend payout ratio is currently 33.70%.

Institutional Investors Weigh In On Popular

Several large investors have recently added to or reduced their stakes in BPOP. Russell Investments Group Ltd. boosted 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 buying an additional 10,308 shares during the period. Sei Investments Co. increased its stake in Popular by 2.2% during the 1st quarter. Sei Investments Co. now owns 282,639 shares of the bank’s stock valued at $24,898,000 after buying an additional 6,067 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Popular by 249.1% in the second quarter. Harbor Capital Advisors Inc. now owns 32,845 shares of the bank’s stock valued at $2,904,000 after acquiring an additional 23,436 shares in the last quarter. Algert Global LLC raised its holdings in Popular by 10.4% during the second quarter. Algert Global LLC now owns 88,379 shares of the bank’s stock worth $7,815,000 after purchasing an additional 8,317 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Popular by 1.4% during the 1st quarter. LSV Asset Management now owns 708,385 shares of the bank’s stock valued at $62,402,000 after purchasing an additional 9,985 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on BPOP shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Royal Bank of Canada lowered their target price on shares of Popular from $108.00 to $96.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Piper Sandler reduced their price target on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays reduced their target price on Popular from $117.00 to $104.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Hovde Group upped their price objective on shares of Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

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.