Key Points
- EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular on May 1 at an average price of $148.51 for proceeds of $920,762, leaving her with 11,255 shares (a 35.52% reduction in her position).
- Popular beat Q1 EPS expectations with $3.78 per share (vs. $3.30 est.) while reporting $822.6M in revenue (below estimates); the bank pays a quarterly dividend of $0.75 (annualized $3.00, ~2.0% yield). Analysts are mostly bullish, giving a consensus "Moderate Buy" rating and an average target of $168.73.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $148.51, for a total transaction of $920,762.00. Following the completion of the transaction, the executive vice president directly owned 11,255 shares in the company, valued at approximately $1,671,480.05. This represents a 35.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Popular Trading Down 0.9%
Shares of Popular stock opened at $148.04 on Tuesday. The company has a fifty day moving average price of $138.97 and a 200 day moving average price of $129.11. Popular, Inc. has a twelve month low of $97.08 and a twelve month high of $152.95. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.75 and a beta of 0.63.
Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $3.78 EPS for the quarter, beating the consensus estimate of $3.30 by $0.48. The company had revenue of $822.63 million for the quarter, compared to analyst estimates of $866.54 million. Popular had a return on equity of 14.65% and a net margin of 20.10%.During the same period last year, the company posted $2.56 earnings per share. Analysts forecast that Popular, Inc. will post 14.84 earnings per share for the current year.
Popular Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, March 18th. Popular's dividend payout ratio (DPR) is presently 22.16%.
Wall Street Analysts Forecast Growth
BPOP has been the subject of a number of analyst reports. Zacks Research cut Popular from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Piper Sandler lifted their price objective on shares of Popular from $156.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $155.00 to $177.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Barclays raised their price target on shares of Popular from $175.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Finally, Hovde Group lifted their price target on shares of Popular from $153.00 to $176.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $168.73.
View Our Latest Stock Analysis on Popular
Institutional Investors Weigh In On Popular
A number of hedge funds have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Popular in the 1st quarter valued at approximately $226,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Popular during the first quarter worth approximately $412,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Popular during the first quarter worth approximately $204,000. Sequoia Financial Advisors LLC increased its stake in shares of Popular by 1.7% in the first quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank's stock worth $764,000 after buying an additional 95 shares during the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in Popular by 17.3% in the first quarter. Childress Capital Advisors LLC now owns 1,935 shares of the bank's stock valued at $260,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds 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.
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