Key Points
- Popular CEO Javier Ferrer sold 35,000 shares at an average price of $175.43, totaling $6.14 million. The transaction reduced his ownership by 26.62%, leaving him with 96,478 shares.
- Popular reported quarterly EPS of $4.35, beating estimates of $3.72, while revenue of $846.92 million fell short of the $878.41 million consensus forecast.
- Analysts maintain a consensus “Buy” rating, with an average price target of $186.92; several firms recently raised their targets to between $200 and $214.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) EVP Lidio Soriano sold 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $174.50, for a total value of $523,500.00. Following the sale, the executive vice president directly owned 107,320 shares in the company, valued at $18,727,340. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Popular Trading Up 0.5%
BPOP opened at $174.84 on Wednesday. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.67 and a beta of 0.61. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $179.00. The stock has a fifty day moving average price of $166.94 and a 200-day moving average price of $150.13.
Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.47% and a net margin of 21.37%.The firm had revenue of $846.92 million during the quarter, compared to analysts' expectations of $878.41 million. During the same period in the prior year, the business posted $3.09 EPS. On average, equities research analysts forecast that Popular, Inc. will post 15.72 EPS for the current year.
Institutional Trading of Popular
Institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC purchased a new stake in Popular during the 2nd quarter worth approximately $1,067,000. Foster & Motley Inc. acquired a new position in Popular during the 2nd quarter valued at approximately $780,000. Bank of New York Mellon Corp purchased a new position in shares of Popular in the second quarter worth $54,916,000. Insight Wealth Strategies LLC purchased a new position in shares of Popular in the second quarter worth $6,914,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Popular by 108.3% during the second quarter. Assenagon Asset Management S.A. now owns 149,094 shares of the bank's stock worth $24,478,000 after buying an additional 77,507 shares during the period. 87.27% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on BPOP shares. Keefe, Bruyette & Woods raised their price target on shares of Popular from $190.00 to $207.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Wells Fargo & Company raised their target price on shares of Popular from $180.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Popular in a report on Friday, July 31st. Barclays upped their price target on Popular from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Finally, Truist Financial increased their price objective on Popular from $192.00 to $197.00 and gave the company a "buy" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $186.92.
Check Out Our Latest Research Report on BPOP
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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