Popular (NASDAQ:BPOP) CEO Javier Ferrer Sells 35,000 Shares

Popular, Inc. (NASDAQ:BPOP) CEO Javier Ferrer sold 35,000 shares of Popular stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $175.43, for a total value of $6,140,050.00. Following the completion of the sale, the chief executive officer directly owned 96,478 shares in the company, valued at $16,925,135.54. This represents a 26.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Popular Price Performance

BPOP stock opened at $174.84 on Wednesday. The stock has a market capitalization of $11.28 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.67 and a beta of 0.61. Popular, Inc. has a fifty-two week low of $108.74 and a fifty-two week high of $179.00. The business has a 50-day moving average of $166.94 and a 200-day moving average of $150.13.

Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.63. Popular had a return on equity of 15.47% and a net margin of 21.37%.The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same quarter last year, the firm earned $3.09 EPS. Equities analysts expect that Popular, Inc. will post 15.72 EPS for the current year.

Institutional Trading of Popular

A number of large investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC bought a new position in shares of Popular in the 2nd quarter valued at about $1,067,000. Foster & Motley Inc. bought a new stake in shares of Popular in the 2nd quarter valued at about $780,000. Bank of New York Mellon Corp bought a new stake in shares of Popular in the 2nd quarter valued at about $54,916,000. Insight Wealth Strategies LLC bought a new stake in shares of Popular in the 2nd quarter valued at about $6,914,000. Finally, Assenagon Asset Management S.A. lifted its stake in Popular by 108.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 149,094 shares of the bank’s stock valued at $24,478,000 after purchasing an additional 77,507 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Analyst Ratings Changes

BPOP has been the topic of several analyst reports. Barclays boosted their price target on shares of Popular from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their price objective on Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Truist Financial lifted their target price on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Popular in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $186.92.

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.