Popular (NASDAQ:BPOP) CEO Sells $6,140,050.00 in Stock

Popular, Inc. (NASDAQ:BPOP) CEO Javier Ferrer sold 35,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $175.43, for a total transaction of $6,140,050.00. Following the completion of the sale, the chief executive officer directly owned 96,478 shares of the company’s stock, valued at approximately $16,925,135.54. This trade represents a 26.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Popular Stock Performance

BPOP opened at $173.96 on Tuesday. The stock has a market capitalization of $11.23 billion, a PE ratio of 11.75, a P/E/G ratio of 0.67 and a beta of 0.61. Popular, Inc. has a one year low of $108.74 and a one year high of $179.00. The business’s 50 day moving average price is $166.47 and its 200 day moving average price is $149.81.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating the consensus estimate of $3.72 by $0.63. The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same quarter in the prior year, the company posted $3.09 EPS. As a group, equities research analysts forecast that Popular, Inc. will post 15.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Popular from $178.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Truist Financial lifted their price target on Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods raised their price objective on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $198.00 price target (up from $190.00) on shares of Popular in a research note on Friday, July 24th. Finally, Barclays increased their target price 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. One 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. Based on data from MarketBeat, Popular currently has a consensus rating of “Buy” and an average target price of $186.92.

Institutional Trading of Popular

A number of institutional investors have recently added to or reduced their stakes in BPOP. Vanguard Group Inc. boosted its stake in shares of Popular by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 8,489,936 shares of the bank’s stock worth $1,057,167,000 after acquiring an additional 37,424 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Popular by 1.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,361,681 shares of the bank’s stock worth $543,117,000 after buying an additional 58,452 shares during the last quarter. AQR Capital Management LLC grew its stake in Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock valued at $376,314,000 after acquiring an additional 1,065,452 shares during the last quarter. Geode Capital Management LLC raised its position in Popular by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock worth $175,057,000 after acquiring an additional 64,778 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Popular by 9.3% during the 4th quarter. LSV Asset Management now owns 1,043,733 shares of the bank’s stock worth $129,966,000 after purchasing an additional 88,765 shares in the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

About Popular

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.