Key Points
- Popular, Inc. director Alejandro Sanchez sold 300 shares on May 22 at an average price of $150.36, totaling $45,108. After the sale, he held 3,960 shares, a 7.04% reduction in his stake.
- The company reported stronger-than-expected quarterly earnings, posting $3.78 EPS versus the $3.30 consensus estimate, though revenue of $816.08 million came in below analyst expectations.
- Popular announced a quarterly dividend of $0.75 per share, payable July 1, implying a 2.0% annualized yield and a payout ratio of 22.16%.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) Director Alejandro Sanchez sold 300 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $150.36, for a total transaction of $45,108.00. Following the completion of the sale, the director directly owned 3,960 shares in the company, valued at approximately $595,425.60. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Popular Stock Performance
NASDAQ:BPOP opened at $152.12 on Wednesday. Popular, Inc. has a one year low of $102.00 and a one year high of $152.97. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.75 and a beta of 0.63. The firm's fifty day moving average is $142.81 and its two-hundred day moving average is $132.93.
Popular (NASDAQ:BPOP - Get Free Report) last posted its earnings results 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 $816.08 million during the quarter, compared to analyst estimates of $866.54 million. Popular had a net margin of 20.10% and a return on equity of 14.53%. During the same period in the previous year, the firm earned $2.56 EPS. As a group, equities research analysts predict that Popular, Inc. will post 15.14 earnings per share for the current fiscal year.
Popular Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be 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 of this dividend is Friday, May 29th. Popular's payout ratio is 22.16%.
Analysts Set New Price Targets
BPOP has been the subject of several recent research reports. Citigroup lifted their target price on shares of Popular from $170.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of Popular from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $155.00 to $177.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Barclays lifted their target price 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, Zacks Research lowered shares of Popular from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $168.73.
View Our Latest Report on Popular
Institutional Investors Weigh In On Popular
Several institutional investors and hedge funds have recently added to or reduced their stakes in BPOP. Acumen Wealth Advisors LLC purchased a new stake in Popular in the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Popular in the 4th quarter worth $28,000. Parallel Advisors LLC increased its holdings in Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank's stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Popular in the 3rd quarter worth $31,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in Popular in the 4th quarter worth $50,000. Hedge funds and other 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.
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