O. Rivera Nestor Sells 10,000 Shares of Popular Inc. (BPOP) Stock
Popular Inc. (NASDAQ:BPOP) insider O. Rivera Nestor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $37.97, for a total transaction of $379,700.00. Following the completion of the transaction, the insider now directly owns 31,400 shares of the company’s stock, valued at $1,192,258. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Popular Inc. (NASDAQ:BPOP) opened at 40.86 on Monday. The company has a market capitalization of $4.24 billion, a P/E ratio of 11.90 and a beta of 1.63. The stock’s 50 day moving average price is $37.91 and its 200 day moving average price is $34.17. Popular Inc. has a 52-week low of $22.40 and a 52-week high of $41.31.
Popular (NASDAQ:BPOP) last released its earnings results on Tuesday, October 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.44. Popular had a net margin of 17.25% and a return on equity of 6.99%. During the same period in the previous year, the business posted $0.82 earnings per share. On average, equities research analysts forecast that Popular Inc. will post $3.03 earnings per share for the current fiscal year.
BPOP has been the subject of a number of recent research reports. TheStreet raised shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Popular in a report on Wednesday, October 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $48.00 target price on shares of Popular in a report on Friday, August 26th. Zacks Investment Research lowered shares of Popular from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. Finally, Barclays PLC lifted their price objective on shares of Popular from $32.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Popular presently has a consensus rating of “Buy” and a consensus price target of $37.83.
Several hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. raised its stake in Popular by 102.9% in the third quarter. KCG Holdings Inc. now owns 22,168 shares of the company’s stock worth $847,000 after buying an additional 11,243 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Popular during the third quarter worth about $283,000. Convergence Investment Partners LLC acquired a new stake in Popular during the third quarter worth about $685,000. Laurion Capital Management LP acquired a new stake in Popular during the third quarter worth about $210,000. Finally, Morgan Stanley raised its stake in Popular by 81.0% in the third quarter. Morgan Stanley now owns 190,739 shares of the company’s stock worth $7,290,000 after buying an additional 85,349 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.
Popular Company Profile
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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