Adorno Denissa Rodriguez Sells 600 Shares of Popular (NASDAQ:BPOP) Stock

Popular, Inc. (NASDAQ:BPOP) VP Adorno Denissa Rodriguez sold 600 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $168.79, for a total value of $101,274.00. Following the completion of the sale, the vice president owned 2,492 shares of the company’s stock, valued at approximately $420,624.68. This represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Popular Price Performance

Shares of Popular stock opened at $169.75 on Friday. The business has a 50-day simple moving average of $170.78 and a 200 day simple moving average of $153.37. Popular, Inc. has a one year low of $108.74 and a one year high of $179.24. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.65 and a beta of 0.61.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.63. Popular had a return on equity of 15.34% and a net margin of 21.37%.The business had revenue of $846.92 million for the quarter, compared to analyst estimates of $878.41 million. During the same quarter in the prior year, the company earned $3.09 earnings per share. On average, sell-side analysts expect that Popular, Inc. will post 15.72 EPS for the current year.

Popular Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.90 dividend. The ex-dividend date is Thursday, September 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Popular’s previous quarterly dividend of $0.75. Popular’s dividend payout ratio (DPR) is 20.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BPOP. Citigroup lifted their price target on shares of Popular from $178.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Benchmark raised their price objective on shares of Popular from $201.00 to $214.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their price objective on shares of Popular from $163.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company upped their target price on shares of Popular from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $186.92.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its position in Popular by 30.5% in the 1st quarter. Parallel Advisors LLC now owns 321 shares of the bank’s stock valued at $43,000 after buying an additional 75 shares during the last quarter. Xponance LLC boosted its holdings in Popular by 2.1% during the 4th quarter. Xponance LLC now owns 3,892 shares of the bank’s stock worth $485,000 after acquiring an additional 80 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Popular by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,262 shares of the bank’s stock worth $974,000 after acquiring an additional 84 shares during the last quarter. Severin Investments LLC grew its stake in shares of Popular by 1.9% in the 1st quarter. Severin Investments LLC now owns 4,799 shares of the bank’s stock worth $644,000 after acquiring an additional 91 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Popular by 1.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,693 shares of the bank’s stock worth $764,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors 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.