Popular, Inc. (NASDAQ:BPOP) VP Sells $52,215.00 in Stock

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $104.43, for a total transaction of $52,215.00. Following the sale, the vice president now directly owns 3,604 shares in the company, valued at $376,365.72. This trade represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Popular Stock Performance

Shares of Popular stock opened at $104.52 on Monday. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $106.81. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The company has a fifty day moving average of $91.96 and a 200-day moving average of $95.75.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.30. Popular had a net margin of 14.15% and a return on equity of 11.89%. The company had revenue of $755.46 million during the quarter, compared to analysts’ expectations of $760.45 million. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, May 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.68%. Popular’s dividend payout ratio (DPR) is 28.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BPOP. Royal Bank of Canada upped their target price on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Hovde Group decreased their price target on shares of Popular from $118.00 to $114.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Piper Sandler increased their price target on shares of Popular from $110.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays reissued an “overweight” rating and issued a $125.00 price target (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Popular from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.43.

Institutional Investors Weigh In On Popular

Institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management boosted its stake in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Popular during the 1st quarter valued at $47,000. Smartleaf Asset Management LLC boosted its position in Popular by 56.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock valued at $57,000 after buying an additional 218 shares during the period. Versant Capital Management Inc boosted its position in Popular by 589.9% during the 1st quarter. Versant Capital Management Inc now owns 821 shares of the bank’s stock valued at $76,000 after buying an additional 702 shares during the period. Finally, Quarry LP purchased a new stake in Popular during the 1st quarter valued at $84,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.