Popular (NASDAQ:BPOP) VP Adorno Denissa Rodriguez Sells 600 Shares

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 600 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $168.79, for a total value of $101,274.00. Following the sale, the vice president owned 2,492 shares of the company’s stock, valued at $420,624.68. This trade represents a 19.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Popular Trading Up 0.1%

NASDAQ BPOP opened at $169.75 on Thursday. The business has a fifty day simple moving average of $170.57 and a 200 day simple moving average of $153.20. Popular, Inc. has a 12 month low of $108.74 and a 12 month high of $179.24. The firm has a market capitalization of $10.83 billion, a P/E ratio of 11.47, a PEG ratio of 0.65 and a beta of 0.61.

Popular (NASDAQ:BPOP) last posted its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) 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 15.34%. The firm had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the business posted $3.09 EPS. As a group, sell-side analysts predict that Popular, Inc. will post 15.72 EPS for the current fiscal year.

Popular Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.1%. This is a boost from Popular’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, September 10th. Popular’s payout ratio is currently 24.32%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays raised their price target on shares of Popular from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Citigroup increased their price target on shares of Popular from $178.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Popular in a research note on Friday, July 31st. Benchmark lifted their target price on shares of Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Truist Financial boosted their price target on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Popular currently has an average rating of “Buy” and a consensus price target of $186.92.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock valued at $43,000 after purchasing an additional 75 shares in the last quarter. Xponance LLC grew its holdings in Popular by 2.1% during the fourth quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after acquiring an additional 80 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Popular by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank’s stock valued at $974,000 after purchasing an additional 84 shares in the last quarter. Severin Investments LLC increased its holdings in Popular by 1.9% in the first quarter. Severin Investments LLC now owns 4,799 shares of the bank’s stock valued at $644,000 after buying an additional 91 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Popular by 1.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank’s stock valued at $764,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

Popular News Roundup

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

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.