Insider Selling: Popular (NASDAQ:BPOP) VP Sells 1,000 Shares of Stock

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 1,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $114.84, for a total value of $114,840.00. Following the sale, the vice president owned 2,604 shares in the company, valued at approximately $299,043.36. The trade was a 27.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Popular Trading Up 1.8%

Shares of BPOP stock traded up $2.00 during mid-day trading on Tuesday, reaching $114.86. The stock had a trading volume of 146,191 shares, compared to its average volume of 561,036. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $129.32. The company has a market cap of $7.66 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 0.47 and a beta of 0.72. The business has a 50-day simple moving average of $118.81 and a 200 day simple moving average of $114.93.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $3.14 EPS for the quarter, topping the consensus estimate of $3.04 by $0.10. The business had revenue of $720.83 million for the quarter, compared to analyst estimates of $803.95 million. Popular had a net margin of 17.63% and a return on equity of 13.46%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 EPS. Research analysts anticipate that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Popular’s dividend payout ratio is 26.55%.

Institutional Investors Weigh In On Popular

A number of hedge funds and other institutional investors have recently made changes to their positions in BPOP. Advisory Services Network LLC acquired a new position in Popular in the third quarter valued at $31,000. Steph & Co. purchased a new stake in Popular in the 2nd quarter valued at about $39,000. Allworth Financial LP increased its stake in shares of Popular by 2,158.8% during the 2nd quarter. Allworth Financial LP now owns 384 shares of the bank’s stock valued at $42,000 after acquiring an additional 367 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Popular by 262.9% during the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after acquiring an additional 255 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Popular by 112.2% in the second quarter. Farther Finance Advisors LLC now owns 418 shares of the bank’s stock worth $46,000 after acquiring an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BPOP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research note on Wednesday, October 8th. Hovde Group reiterated an “outperform” rating on shares of Popular in a report on Friday, August 29th. UBS Group reduced their price objective on Popular from $135.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Barclays reiterated an “overweight” rating on shares of Popular in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $133.56.

Popular Company Profile

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