Key Points
- Popular VP Adorno Denissa Rodriguez sold 600 shares at an average price of $168.79, generating approximately $101,274. Following the transaction, she retained 2,492 shares, a 19.4% reduction in her holdings.
- Popular reported quarterly EPS of $4.35, beating analysts’ $3.72 estimate, although revenue of $846.92 million fell short of the $878.41 million consensus.
- The company raised its quarterly dividend to $0.90 per share from $0.75, implying an annualized dividend of $3.60 and a 2.1% yield. Analysts maintained a consensus “Buy” rating with an average price target of $186.92.
Popular, Inc. (NASDAQ:BPOP - Get Free Report) VP Adorno Denissa Rodriguez sold 600 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $168.79, for a total value of $101,274.00. Following the completion of the sale, the vice president owned 2,492 shares of the company's stock, valued at approximately $420,624.68. The trade was a 19.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Popular Stock Performance
Shares of Popular stock opened at $169.75 on Thursday. The stock has a 50 day moving average of $170.57 and a 200 day moving average of $153.20. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.65 and a beta of 0.61. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.24.
Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.63. The company had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. Popular had a return on equity of 15.34% and a net margin of 21.37%.During the same period in the previous year, the company posted $3.09 EPS. Analysts forecast that Popular, Inc. will post 15.72 EPS for the current year.
Popular Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a dividend of $0.90 per share. This is an increase from Popular's previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 10th. Popular's dividend payout ratio is currently 24.32%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in Popular by 23.1% during the first quarter. Royal Bank of Canada now owns 94,352 shares of the bank's stock worth $8,715,000 after purchasing an additional 17,729 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Popular in the 1st quarter valued at $257,000. Goldman Sachs Group Inc. grew its position in shares of Popular by 60.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank's stock valued at $20,647,000 after buying an additional 84,327 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Popular in the 1st quarter valued at $207,000. Finally, Sivia Capital Partners LLC acquired a new stake in Popular during the 2nd quarter worth $252,000. 87.27% of the stock is owned by institutional investors and hedge funds.
Popular News Summary
Here are the key news stories impacting Popular this week:
- Neutral Sentiment: Reported short interest was listed at zero shares as of August 25, implying no measurable bearish positioning. However, the report also showed an invalid “NaN” change and a zero-day short-interest ratio, suggesting the data may be incomplete or unreliable.
- Negative Sentiment: Popular SVP and Comptroller Adorno Denissa Rodriguez sold 600 shares for approximately $101,274 at an average price of $168.79. The transaction reduced her holdings by 19.4%, which may modestly weigh on sentiment, though she still owns 2,492 shares and the sale does not necessarily indicate a change in the company’s outlook. Senior Executive’s Bold Move Shakes Up Popular’s Insider Activity
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on BPOP. Piper Sandler restated an "overweight" rating and set a $198.00 price target (up from $190.00) on shares of Popular in a report on Friday, July 24th. Citigroup boosted their price objective on Popular from $178.00 to $188.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Keefe, Bruyette & Woods upped their target price on shares of Popular from $190.00 to $207.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Benchmark raised their target price on shares of Popular from $201.00 to $214.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Barclays lifted their price target on shares of Popular from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Popular currently has a consensus rating of "Buy" and an average price target of $186.92.
Read Our Latest Stock Report on Popular
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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