Gilberto Monzon Sells 9,600 Shares of Popular, Inc. (NASDAQ:BPOP) 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 transaction, the executive vice president now directly owns 39,170 shares in the company, valued at $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Popular Stock Performance

Shares of NASDAQ BPOP traded down $0.35 during trading hours on Friday, hitting $103.34. The company’s stock had a trading volume of 145,080 shares, compared to its average volume of 454,733. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.74 and a beta of 0.82. Popular, Inc. has a 12 month low of $80.60 and a 12 month high of $106.46. The business has a 50-day simple moving average of $97.46 and a 200-day simple moving average of $97.54.

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

Popular Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company boosted their target price on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Piper Sandler lowered their target price on shares of Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Barclays raised their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised their price target on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Two 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, Popular has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Institutional Trading of Popular

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its holdings in shares of Popular by 235.5% during the third quarter. Los Angeles Capital Management LLC now owns 332,093 shares of the bank’s stock worth $33,299,000 after purchasing an additional 233,119 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Popular by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 697,389 shares of the bank’s stock valued at $65,596,000 after buying an additional 93,262 shares during the period. Soros Fund Management LLC purchased a new stake in shares of Popular in the 3rd quarter valued at $9,115,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Popular by 18.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 548,057 shares of the bank’s stock worth $54,954,000 after acquiring an additional 84,839 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Popular during the 3rd quarter worth about $8,385,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

About Popular

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.