Insider Selling: Popular (NASDAQ:BPOP) EVP Sells $523,500.00 in Stock

Popular, Inc. (NASDAQ:BPOP) EVP Lidio Soriano sold 3,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the transaction, the executive vice president owned 107,320 shares in the company, valued at $18,727,340. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Popular Price Performance

NASDAQ BPOP traded up $1.23 on Tuesday, hitting $175.19. The company had a trading volume of 142,835 shares, compared to its average volume of 534,997. The company has a market capitalization of $11.31 billion, a PE ratio of 11.86, a PEG ratio of 0.67 and a beta of 0.61. The company’s fifty day moving average price is $166.47 and its 200-day moving average price is $149.81. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $179.00.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. The company had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same period in the prior year, the business posted $3.09 earnings per share. On average, sell-side analysts anticipate that Popular, Inc. will post 15.72 EPS for the current year.

Institutional Trading of Popular

A number of hedge funds have recently bought and sold shares of BPOP. Crossmark Global Holdings Inc. lifted its position in Popular by 10.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock worth $23,369,000 after buying an additional 17,148 shares in the last quarter. Geode Capital Management LLC grew its holdings in Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock valued at $175,057,000 after buying an additional 64,778 shares in the last quarter. UBS Group AG grew its holdings in Popular by 28.1% in the 4th quarter. UBS Group AG now owns 540,646 shares of the bank’s stock valued at $67,321,000 after buying an additional 118,496 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Popular in the 4th quarter worth $2,038,000. Finally, Norges Bank acquired a new stake in shares of Popular in the 4th quarter worth $104,955,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BPOP shares. UBS Group lifted their price objective on Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Truist Financial increased their target price on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company raised their target price on Popular from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Finally, Benchmark boosted their price target on Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $186.92.

Popular Company Profile

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.