Key Points
- Popular EVP Luis Cestero sold 8,500 shares at an average price of $176.36, generating approximately $1.5 million. The sale reduced his ownership by 34.68%, leaving him with 16,013 shares.
- Popular recently reported quarterly EPS of $4.35, beating the $3.72 consensus estimate, while revenue of $846.92 million fell short of expectations.
- Investor sentiment remains positive: institutional investors own 87.27% of the stock, and analysts maintain a consensus “Buy” rating with an average price target of $185.25.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) EVP Luis Cestero sold 8,500 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total transaction of $1,499,060.00. Following the sale, the executive vice president owned 16,013 shares in the company, valued at $2,824,052.68. The trade was a 34.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Popular Stock Performance
BPOP opened at $176.14 on Friday. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.00. The firm's fifty day moving average is $165.43 and its 200 day moving average is $149.14. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61.
Popular (NASDAQ:BPOP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.47%. The company had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. During the same quarter in the prior year, the firm posted $3.09 EPS. On average, equities research analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BPOP. AQR Capital Management LLC increased its position in Popular by 56.2% in the third quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank's stock worth $376,314,000 after purchasing an additional 1,065,452 shares during the last quarter. Norges Bank purchased a new stake in Popular during the fourth quarter valued at $104,955,000. Bank of New York Mellon Corp bought a new position in Popular during the second quarter valued at $54,916,000. Panagora Asset Management Inc. lifted its position in Popular by 85.2% during the fourth quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank's stock valued at $84,709,000 after purchasing an additional 312,984 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of 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 buying an additional 301,494 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on BPOP. Weiss Ratings reiterated a "buy (a-)" rating on shares of Popular in a research report on Friday, July 31st. Barclays boosted their price target on Popular from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday. Royal Bank Of Canada upped their price target on Popular from $163.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. UBS Group increased their price objective on shares of Popular from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, Truist Financial lifted their price objective on shares of Popular from $192.00 to $197.00 and gave the company a "buy" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $185.25.
Get Our Latest Research 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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