Popular, Inc. (NASDAQ:BPOP) Short Interest Update

Popular, Inc. (NASDAQ:BPOP) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 834,600 shares, a drop of 14.1% from the January 15th total of 972,100 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 500,400 shares, the days-to-cover ratio is presently 1.7 days.

Insider Buying and Selling at Popular

In other news, 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 transaction of $984,672.00. Following the sale, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares of the company’s stock, valued at $3,418,721.32. This trade represents a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Popular

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc grew its position in shares of Popular by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,239 shares of the bank’s stock valued at $211,000 after purchasing an additional 112 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the period. Assetmark Inc. lifted its stake in Popular by 4.0% during the third quarter. Assetmark Inc. now owns 3,749 shares of the bank’s stock worth $376,000 after purchasing an additional 143 shares during the period. Arizona State Retirement System increased its holdings in shares of Popular by 0.7% during the fourth quarter. Arizona State Retirement System now owns 20,953 shares of the bank’s stock worth $1,971,000 after buying an additional 143 shares in the last quarter. Finally, Pathstone Holdings LLC increased its holdings in shares of Popular by 0.8% during the third quarter. Pathstone Holdings LLC now owns 19,690 shares of the bank’s stock worth $1,974,000 after buying an additional 148 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Stock Up 1.4 %

Shares of Popular stock traded up $1.41 on Friday, hitting $104.41. 446,595 shares of the company traded hands, compared to its average volume of 459,677. The company has a 50-day moving average price of $97.92 and a 200 day moving average price of $97.55. Popular has a 12-month low of $80.60 and a 12-month high of $106.46. The company has a market cap of $7.45 billion, a PE ratio of 12.20, a PEG ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, topping the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Equities research analysts anticipate that Popular will post 10.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BPOP shares. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Piper Sandler dropped their target price on 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 Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.25.

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.