Popular, Inc. (NASDAQ:BPOP - Get Free Report) Director Alejandro Ballester sold 23,000 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $150.00, for a total value of $3,450,000.00. Following the completion of the sale, the director owned 34,588 shares of the company's stock, valued at $5,188,200. This trade represents a 39.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Popular Price Performance
BPOP opened at $149.35 on Friday. The company has a market capitalization of $9.71 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.76 and a beta of 0.63. The business has a fifty day simple moving average of $138.97 and a 200 day simple moving average of $129.02. Popular, Inc. has a 1 year low of $96.61 and a 1 year high of $152.95.
Popular (NASDAQ:BPOP - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.48. The firm had revenue of $822.63 million during the quarter, compared to analysts' expectations of $866.54 million. Popular had a return on equity of 14.65% and a net margin of 20.10%.During the same period in the previous year, the firm earned $2.56 EPS. Equities analysts anticipate that Popular, Inc. will post 14.84 earnings per share for the current fiscal year.
Popular Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $3.00 annualized dividend and a yield of 2.0%. Popular's payout ratio is currently 22.16%.
Hedge Funds Weigh In On Popular
A number of institutional investors have recently modified their holdings of BPOP. AQR Capital Management LLC raised its holdings in shares of Popular by 56.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock worth $376,314,000 after buying an additional 1,065,452 shares in the last quarter. Norges Bank acquired a new position in shares of Popular during the 4th quarter worth $104,955,000. Panagora Asset Management Inc. raised its holdings in shares of Popular by 85.2% during the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank's stock worth $84,709,000 after buying an additional 312,984 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Popular by 2,752.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank's stock worth $39,684,000 after purchasing an additional 301,494 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Popular by 18.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,779,309 shares of the bank's stock worth $225,990,000 after purchasing an additional 283,000 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Truist Financial lifted their price objective on Popular from $153.00 to $164.00 and gave the company a "buy" rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods lifted their price objective on Popular from $155.00 to $177.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Popular in a report on Wednesday, January 21st. Credit Suisse Group set a $156.00 price objective on Popular in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada lifted their price objective on Popular from $141.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Popular currently has an average rating of "Moderate Buy" and an average target price of $168.73.
Check Out Our Latest Stock Report on BPOP
Popular Company Profile
(
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.
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