Gilberto Monzon Sells 9,600 Shares of Popular, Inc. (NASDAQ:BPOP) Stock

Popular, Inc. (NASDAQ:BPOP) EVP Gilberto Monzon sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Popular Price Performance

Popular stock opened at $103.37 on Friday. Popular, Inc. has a fifty-two week low of $80.60 and a fifty-two week high of $106.46. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.74 and a beta of 0.82. The company’s 50 day simple moving average is $97.46 and its 200 day simple moving average is $97.54.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $0.70 dividend. This is an increase from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, December 6th. Popular’s dividend payout ratio is 32.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group assumed coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price for the company. Piper Sandler dropped their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays raised 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. Wells Fargo & Company lifted their price target on shares of Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Popular has an average rating of “Moderate Buy” and an average price target of $112.25.

Institutional Investors Weigh In On Popular

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Popular during the 2nd quarter worth approximately $444,000. Creative Planning boosted its holdings in shares of Popular by 18.0% in the second quarter. Creative Planning now owns 7,406 shares of the bank’s stock valued at $655,000 after buying an additional 1,132 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Popular during the second quarter worth $569,000. Park Avenue Securities LLC raised its holdings in shares of Popular by 8.6% during the third quarter. Park Avenue Securities LLC now owns 3,874 shares of the bank’s stock worth $388,000 after acquiring an additional 307 shares during the period. Finally, CWM LLC lifted its position in Popular by 98.1% in the 3rd quarter. CWM LLC now owns 5,036 shares of the bank’s stock valued at $505,000 after acquiring an additional 2,494 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Company Profile

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.