Maria Luisa Ferre Sells 3,385 Shares of Popular (NASDAQ:BPOP) Stock

Popular, Inc. (NASDAQ:BPOP) Director Maria Luisa Ferre sold 3,385 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $175.42, for a total value of $593,796.70. Following the transaction, the director directly owned 10,156 shares in the company, valued at approximately $1,781,565.52. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Maria Luisa Ferre also recently made the following trade(s):

• On Thursday, July 30th, Maria Luisa Ferre sold 3,076 shares of Popular stock. The shares were sold at an average price of $173.79, for a total value of $534,578.04.

Popular Price Performance

Shares of BPOP stock traded up $0.08 on Friday, hitting $175.21. 465,364 shares of the stock traded hands, compared to its average volume of 543,900. The company’s fifty day moving average is $162.93 and its 200 day moving average is $147.42. Popular, Inc. has a 1-year low of $108.74 and a 1-year high of $176.59. The company has a market capitalization of $11.31 billion, a PE ratio of 11.84, a PEG ratio of 0.66 and a beta of 0.61.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. Popular had a net margin of 21.37% and a return on equity of 15.47%. The firm had revenue of $846.92 million during the quarter, compared to the consensus estimate of $878.41 million. During the same quarter in the previous year, the company posted $3.09 earnings per share. As a group, equities research analysts expect that Popular, Inc. will post 15.72 EPS for the current year.

Popular Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 29th. Popular’s dividend payout ratio (DPR) is presently 20.27%.

Popular News Summary

Here are the key news stories impacting Popular this week:

• Positive Sentiment: Strong momentum and earnings performance support the stock. Zacks identifies BPOP as a top-ranked momentum stock, while Popular’s latest quarterly results included adjusted earnings of $4.35 per share—well above the $3.72 analyst consensus and up from $3.09 a year earlier. Popular is a Top-Ranked Momentum Stock
• Positive Sentiment: BPOP’s valuation remains potentially attractive relative to its growth. The stock’s reported price-to-earnings ratio is approximately 11.8, and its price-to-earnings-growth ratio is below 1, metrics that may appeal to investors seeking earnings growth at a reasonable price. Popular Soars to 52-Week High
• Neutral Sentiment: The 52-week high creates a near-term valuation and profit-taking consideration. Zacks questions whether investors should “cash out” after the recent rally, suggesting that expectations for further gains may already be reflected in the share price. Investors will likely focus on whether Popular can sustain earnings growth and improve revenue, which came in below estimates in the latest quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a research note 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 note on Friday, July 24th. Zacks Research lowered Popular from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Benchmark increased their price target on Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada raised their price target on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $184.42.

Hedge Funds Weigh In On Popular

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Popular by 56.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,962,871 shares of the bank’s stock worth $376,314,000 after acquiring an additional 1,065,452 shares during the period. Norges Bank acquired a new position in Popular during the 4th quarter valued at about $104,955,000. Panagora Asset Management Inc. grew its position in Popular by 85.2% in the 4th quarter. Panagora Asset Management Inc. now owns 680,282 shares of the bank’s stock worth $84,709,000 after purchasing an additional 312,984 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Popular by 2,752.6% in the third quarter. Balyasny Asset Management L.P. now owns 312,447 shares of the bank’s stock valued at $39,684,000 after purchasing an additional 301,494 shares during the period. Finally, Arbejdsmarkedets Tillaegspension bought a new stake in shares of Popular during the fourth quarter valued at approximately $24,841,000. Institutional investors own 87.27% of the company’s stock.

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.