Popular Inc (NASDAQ:BPOP) insider Juan Guerrero sold 6,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $53.31, for a total transaction of $319,860.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of BPOP opened at $56.01 on Friday. The stock has a market cap of $5.57 billion, a PE ratio of 13.28 and a beta of 1.07. Popular Inc has a 52 week low of $32.33 and a 52 week high of $56.16.
Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.20. The business had revenue of $602.49 million during the quarter, compared to analyst estimates of $586.10 million. Popular had a net margin of 16.32% and a return on equity of 8.17%. During the same quarter in the prior year, the business earned $0.19 earnings per share. Sell-side analysts forecast that Popular Inc will post 4.89 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. EJF Capital LLC acquired a new position in Popular in the second quarter worth about $18,527,000. Martingale Asset Management L P raised its position in Popular by 74.8% in the second quarter. Martingale Asset Management L P now owns 785,567 shares of the bank’s stock worth $35,516,000 after purchasing an additional 336,219 shares in the last quarter. FMR LLC raised its position in Popular by 4.2% in the third quarter. FMR LLC now owns 4,581,966 shares of the bank’s stock worth $234,826,000 after purchasing an additional 185,160 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in Popular by 78.2% in the second quarter. Monarch Partners Asset Management LLC now owns 330,130 shares of the bank’s stock worth $14,925,000 after purchasing an additional 144,890 shares in the last quarter. Finally, Investec Asset Management LTD raised its position in Popular by 5.8% in the second quarter. Investec Asset Management LTD now owns 2,598,427 shares of the bank’s stock worth $117,475,000 after purchasing an additional 143,167 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on BPOP. ValuEngine raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research raised shares of Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research report on Friday, October 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price objective on shares of Popular in a research report on Wednesday, July 25th. Finally, Barclays upped their price objective on shares of Popular from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Popular presently has a consensus rating of “Buy” and a consensus price target of $54.88.
Popular Company Profile
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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