Key Points
- Insider sale: VP Adorno Denissa Rodriguez sold 1,000 shares on Nov. 21 at an average price of $114.84 for $114,840, reducing her holding by 27.75% to 2,604 shares (worth about $299,043).
- Dividend announced: Popular declared a quarterly dividend of $0.75 per share (annualized $3.00) with an ex-dividend and record date of Dec. 5 and a payment date of Jan. 2, implying a yield of roughly 2.6%.
- Recent results and analyst view: The bank reported Q3 EPS of $3.14, beating estimates by $0.10 while revenue fell to $720.8M versus a $803.95M consensus, and analysts' consensus rating remains a "Buy" with a $133.56 target.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $114.84, for a total value of $114,840.00. Following the transaction, the vice president owned 2,604 shares in the company, valued at $299,043.36. This trade represents a 27.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Popular Stock Performance
Shares of NASDAQ BPOP opened at $114.75 on Wednesday. The firm has a fifty day moving average of $118.64 and a 200 day moving average of $115.03. The firm has a market cap of $7.65 billion, a PE ratio of 10.15, a PEG ratio of 0.47 and a beta of 0.72. Popular, Inc. has a one year low of $78.23 and a one year high of $129.32.
Popular (NASDAQ:BPOP - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.10. Popular had a net margin of 17.63% and a return on equity of 13.46%. The business had revenue of $720.83 million for the quarter, compared to the consensus estimate of $803.95 million. During the same period last year, the firm posted $2.16 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, December 5th. Popular's payout ratio is presently 26.55%.
Institutional Trading of Popular
Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Popular by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,569,149 shares of the bank's stock worth $329,674,000 after acquiring an additional 34,322 shares during the period. AQR Capital Management LLC boosted its holdings in Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock valued at $376,314,000 after purchasing an additional 1,065,452 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Popular by 1.7% in the 1st quarter. Wellington Management Group LLP now owns 1,940,484 shares of the bank's stock valued at $179,243,000 after buying an additional 32,078 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Popular by 18.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,779,309 shares of the bank's stock worth $225,990,000 after buying an additional 283,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Popular by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,337,901 shares of the bank's stock valued at $147,471,000 after buying an additional 7,500 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Truist Financial began coverage on Popular in a report on Thursday, October 9th. They set a "buy" rating and a $153.00 target price for the company. Weiss Ratings restated a "buy (b)" rating on shares of Popular in a report on Wednesday, October 8th. Hovde Group reaffirmed an "outperform" rating on shares of Popular in a research note on Friday, August 29th. Zacks Research raised shares of Popular from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 11th. Finally, UBS Group decreased their price target on shares of Popular from $135.00 to $127.00 and set a "neutral" rating on the stock in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Popular has an average rating of "Buy" and a consensus price target of $133.56.
Check Out Our Latest Report on Popular
About Popular
(
Get Free Report)
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.
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