Insider Selling: Popular, Inc. (NASDAQ:BPOP) EVP Sells 7,000 Shares of Stock

Popular, Inc. (NASDAQ:BPOP) EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $77.45, for a total value of $542,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of BPOP stock opened at $77.42 on Thursday. The stock’s fifty day simple moving average is $72.90 and its 200 day simple moving average is $61.46. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 13.87 and a beta of 1.24. Popular, Inc. has a one year low of $31.33 and a one year high of $79.89.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, April 28th. The bank reported $3.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $1.21. Popular had a return on equity of 8.51% and a net margin of 18.66%. During the same period last year, the business posted $0.37 EPS. As a group, research analysts anticipate that Popular, Inc. will post 5.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Wednesday, May 26th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, May 25th. This represents a $1.80 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Popular’s previous quarterly dividend of $0.40. Popular’s payout ratio is currently 23.26%.

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Popular by 16.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,308,512 shares of the bank’s stock worth $298,975,000 after purchasing an additional 738,338 shares in the last quarter. BlackRock Inc. boosted its stake in Popular by 6.3% in the first quarter. BlackRock Inc. now owns 3,923,144 shares of the bank’s stock worth $275,876,000 after purchasing an additional 231,143 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Popular by 3,729.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,362,924 shares of the bank’s stock worth $133,080,000 after purchasing an additional 2,301,216 shares in the last quarter. Two Creeks Capital Management LP lifted its stake in shares of Popular by 15.6% during the fourth quarter. Two Creeks Capital Management LP now owns 2,296,061 shares of the bank’s stock valued at $129,314,000 after acquiring an additional 310,314 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Popular by 12.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,575,822 shares of the bank’s stock valued at $88,707,000 after acquiring an additional 169,760 shares during the period. 81.63% of the stock is currently owned by institutional investors.

Several brokerages have commented on BPOP. Royal Bank of Canada lifted their price target on Popular from $70.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Friday, April 2nd. Citigroup lifted their price target on Popular from $69.00 to $83.00 in a research report on Wednesday, April 14th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Popular from $69.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Six analysts have rated the stock with a buy rating, Popular currently has a consensus rating of “Buy” and a consensus target price of $78.17.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico and the United States. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.

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