Popular (NASDAQ:BPOP) CEO Sells $6,140,050.00 in Stock

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

Popular Price Performance

NASDAQ:BPOP opened at $173.96 on Tuesday. Popular, Inc. has a 1-year low of $108.74 and a 1-year high of $179.00. The firm has a market capitalization of $11.23 billion, a P/E ratio of 11.75, a PEG ratio of 0.67 and a beta of 0.61. The company’s fifty day moving average price is $166.47 and its 200-day moving average price is $149.81.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on BPOP shares. Truist Financial lifted their target price on shares of Popular from $192.00 to $197.00 and gave the company a “buy” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods increased their price target on shares of Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $198.00 price target (up from $190.00) on shares of Popular in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Popular in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $186.92.

Institutional Trading of Popular

Hedge funds have recently bought and sold shares of the business. Great Lakes Advisors LLC acquired a new position in shares of Popular during the 2nd quarter worth approximately $1,067,000. Foster & Motley Inc. acquired a new stake in shares of Popular in the second quarter valued at approximately $780,000. Bank of New York Mellon Corp purchased a new position in Popular during the second quarter worth approximately $54,916,000. Insight Wealth Strategies LLC purchased a new position in Popular during the second quarter worth approximately $6,914,000. Finally, Assenagon Asset Management S.A. boosted its stake in Popular by 108.3% during the second quarter. Assenagon Asset Management S.A. now owns 149,094 shares of the bank’s stock worth $24,478,000 after buying an additional 77,507 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

About Popular

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.