Key Points
- Director sale: Alejandro Sanchez sold 1,451 shares on Feb. 26 at an average price of $140.85 for $204,373.35, reducing his holdings by 29.82% to 3,415 shares (about $481,003); the trade was disclosed in an SEC filing.
- Company fundamentals & outlook: Popular opened at $138.08, has a $9.21B market cap and P/E of 11.21, reported $3.38 EPS (beating estimates), declared a $0.75 quarterly dividend (2.2% yield), and carries a consensus "Buy" rating with a $156.55 target from analysts.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) Director Alejandro Sanchez sold 1,451 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $140.85, for a total transaction of $204,373.35. Following the sale, the director directly owned 3,415 shares of the company's stock, valued at approximately $481,002.75. This trade represents a 29.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Popular Stock Performance
NASDAQ BPOP opened at $138.08 on Tuesday. Popular, Inc. has a one year low of $78.23 and a one year high of $149.31. The company's 50 day moving average price is $133.75 and its 200 day moving average price is $124.79. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.84 and a beta of 0.61.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, beating analysts' consensus estimates of $3.02 by $0.36. The business had revenue of $806.59 million for the quarter, compared to the consensus estimate of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.87%. During the same quarter last year, the firm posted $2.51 EPS. Sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.
Popular Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $3.00 annualized dividend and a yield of 2.2%. Popular's dividend payout ratio (DPR) is 24.35%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on BPOP shares. Keefe, Bruyette & Woods raised their target price on Popular from $146.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. Piper Sandler began coverage on shares of Popular in a research note on Thursday, January 15th. They set an "overweight" rating and a $152.00 price objective on the stock. Truist Financial boosted their target price on shares of Popular from $153.00 to $164.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Royal Bank Of Canada raised their price target on shares of Popular from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. Finally, Barclays boosted their price objective on shares of Popular from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Popular presently has a consensus rating of "Buy" and a consensus target price of $156.55.
Read Our Latest Stock Analysis on BPOP
Institutional Trading of Popular
Hedge funds and other institutional investors have recently made changes to their positions in the stock. DGS Capital Management LLC bought a new position in Popular during the 4th quarter valued at $274,000. Invesco Ltd. raised its stake in shares of Popular by 88.8% in the 4th quarter. Invesco Ltd. now owns 149,185 shares of the bank's stock valued at $18,577,000 after purchasing an additional 70,181 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Popular by 68.5% during the fourth quarter. Corient Private Wealth LLC now owns 24,761 shares of the bank's stock worth $3,083,000 after purchasing an additional 10,066 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Popular by 50.3% during the fourth quarter. Mackenzie Financial Corp now owns 439,752 shares of the bank's stock worth $55,282,000 after purchasing an additional 147,197 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Popular in the fourth quarter worth about $4,190,000. Institutional investors own 87.27% of the company's stock.
About Popular
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
