Popular (NASDAQ:BPOP) Director Alejandro Ballester Sells 2,360 Shares

Popular, Inc. (NASDAQ:BPOP) Director Alejandro Ballester sold 2,360 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $132.50, for a total value of $312,700.00. Following the sale, the director directly owned 57,449 shares of the company’s stock, valued at $7,611,992.50. This represents a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Popular Stock Performance

Shares of BPOP stock opened at $136.69 on Tuesday. The stock has a fifty day simple moving average of $124.13 and a two-hundred day simple moving average of $120.90. The firm has a market capitalization of $9.11 billion, a PE ratio of 11.09, a PEG ratio of 0.55 and a beta of 0.63. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $136.86.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. Popular had a return on equity of 13.87% and a net margin of 18.75%.The firm had revenue of $815.98 million during the quarter, compared to analyst estimates of $811.55 million. During the same quarter in the prior year, the company posted $2.51 earnings per share. On average, sell-side analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.2%. Popular’s dividend payout ratio (DPR) is presently 24.35%.

Analyst Upgrades and Downgrades

BPOP has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Popular in a research note on Tuesday, January 6th. Truist Financial lifted their target price on Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Piper Sandler began coverage on Popular in a research report on Thursday, January 15th. They issued an “overweight” rating and a $152.00 target price on the stock. Wells Fargo & Company dropped their price target on Popular from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Finally, Zacks Research downgraded Popular from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Institutional Trading of Popular

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of Popular in the third quarter worth approximately $31,000. True Wealth Design LLC grew its position in Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock valued at $45,000 after acquiring an additional 255 shares during the last quarter. Allworth Financial LP increased its stake in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after purchasing an additional 367 shares during the period. Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 221 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Popular by 3,925.0% during the second quarter. IFP Advisors Inc now owns 483 shares of the bank’s stock worth $53,000 after purchasing an additional 471 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Popular Company Profile

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.