Insider Selling: Popular, Inc. (NASDAQ:BPOP) EVP Sells $984,672.00 in Stock

Popular, Inc. (NASDAQ:BPOP) EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the completion of the transaction, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Popular Price Performance

NASDAQ:BPOP opened at $103.37 on Monday. Popular, Inc. has a one year low of $80.60 and a one year high of $106.46. The company has a market cap of $7.37 billion, a PE ratio of 12.08, a PEG ratio of 0.75 and a beta of 0.82. The firm has a 50-day moving average of $97.54 and a 200-day moving average of $97.52.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, equities research analysts expect that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. Popular’s dividend payout ratio is presently 32.71%.

Institutional Trading of Popular

Several institutional investors and hedge funds have recently made changes to their positions in BPOP. CIBC Asset Management Inc grew its position in Popular by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock worth $211,000 after purchasing an additional 112 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Popular by 4.0% in the third quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock valued at $376,000 after acquiring an additional 143 shares in the last quarter. Arizona State Retirement System increased its position in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock valued at $1,971,000 after acquiring an additional 143 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after acquiring an additional 148 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Popular by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,709 shares of the bank’s stock worth $2,888,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BPOP shares. Barclays lifted their target price on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler cut their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. UBS Group began coverage on shares of Popular in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Popular presently has an average rating of “Moderate Buy” and an average price target of $112.25.

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.