Luis Cestero Sells 8,500 Shares of Popular (NASDAQ:BPOP) Stock

Popular, Inc. (NASDAQ:BPOP) EVP Luis Cestero sold 8,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $176.36, for a total value of $1,499,060.00. Following the sale, the executive vice president owned 16,013 shares in the company, valued at approximately $2,824,052.68. This represents a 34.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Popular Trading Down 1.2%

Shares of Popular stock opened at $174.04 on Friday. The company’s 50-day moving average price is $165.94 and its 200-day moving average price is $149.31. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $179.00. The company has a market cap of $11.23 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.68 and a beta of 0.61.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $4.35 EPS for the quarter, beating the consensus estimate of $3.72 by $0.63. The company had revenue of $846.92 million during the quarter, compared to analysts’ expectations of $878.41 million. Popular had a net margin of 21.37% and a return on equity of 15.47%. During the same quarter in the previous year, the company earned $3.09 earnings per share. On average, sell-side analysts predict that Popular, Inc. will post 15.72 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Popular from $163.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Citigroup upped their target price on Popular from $178.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Benchmark raised their price target on Popular from $201.00 to $214.00 and gave the company a “buy” rating in a report on Friday, July 24th. Truist Financial lifted their price target on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, UBS Group boosted their price objective on Popular from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $185.25.

Institutional Trading of Popular

Hedge funds have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new position in Popular in the fourth quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Popular during the fourth quarter worth about $28,000. Parallel Advisors LLC boosted its holdings in shares of Popular by 70.8% in the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Popular during the 3rd quarter valued at about $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Popular during the 4th quarter valued at about $50,000. 87.27% of the stock is owned by institutional investors.

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.