Popular, Inc. (NASDAQ:BPOP) EVP Sells $1,040,200.00 in Stock

Popular, Inc. (NASDAQ:BPOP) EVP Eduardo J. Negron sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares in the company, valued at approximately $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Popular Price Performance

Shares of NASDAQ:BPOP traded down $0.55 during trading on Friday, reaching $102.94. 383,117 shares of the company were exchanged, compared to its average volume of 482,086. The firm has a market capitalization of $7.34 billion, a PE ratio of 12.03, a P/E/G ratio of 0.69 and a beta of 0.81. The business’s fifty day simple moving average is $97.17 and its 200-day simple moving average is $97.39. Popular, Inc. has a 12-month low of $80.60 and a 12-month high of $106.46.

Popular (NASDAQ:BPOP) last issued its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. On average, sell-side analysts anticipate that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.72%. This is an increase from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. Popular’s dividend payout ratio (DPR) is 32.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BPOP. Wells Fargo & Company boosted their price objective on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group started coverage on shares of Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price for the company. Barclays boosted their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Piper Sandler decreased their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Popular presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

Institutional Investors Weigh In On Popular

Institutional investors have recently bought and sold shares of the company. TCW Group Inc. boosted its stake in Popular by 15.2% in the third quarter. TCW Group Inc. now owns 94,815 shares of the bank’s stock valued at $9,507,000 after acquiring an additional 12,494 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Popular by 7.3% in the third quarter. Principal Financial Group Inc. now owns 1,054,849 shares of the bank’s stock valued at $105,769,000 after acquiring an additional 71,782 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Popular by 284.9% in the third quarter. Thrivent Financial for Lutherans now owns 72,403 shares of the bank’s stock worth $7,260,000 after buying an additional 53,590 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Popular by 83.9% in the third quarter. Cerity Partners LLC now owns 9,546 shares of the bank’s stock worth $957,000 after buying an additional 4,354 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Popular by 279.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,798 shares of the bank’s stock worth $3,890,000 after buying an additional 28,574 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

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.