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

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

Popular Price Performance

Popular stock opened at $176.14 on Friday. Popular, Inc. has a one year low of $108.74 and a one year high of $179.00. The stock has a market capitalization of $11.37 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61. The business’s fifty day moving average is $165.43 and its 200 day moving average is $149.14.

Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, July 23rd. The bank reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.72 by $0.63. The business had revenue of $846.92 million during the quarter, compared to analyst estimates of $878.41 million. Popular had a return on equity of 15.47% and a net margin of 21.37%.During the same quarter in the previous year, the firm earned $3.09 EPS. As a group, sell-side analysts expect that Popular, Inc. will post 15.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BPOP. Barclays raised their target price on shares of Popular from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Popular from $190.00 to $207.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Citigroup increased their price target on Popular from $178.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Truist Financial raised their price target on Popular from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Benchmark lifted their price objective on Popular from $201.00 to $214.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $185.25.

Hedge Funds Weigh In On Popular

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acumen Wealth Advisors LLC bought a new stake in Popular during the fourth quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Popular during the 4th quarter valued at about $28,000. Parallel Advisors LLC lifted its position in shares of Popular by 70.8% during the 4th quarter. Parallel Advisors LLC now owns 246 shares of the bank’s stock valued at $31,000 after buying 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 approximately $31,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Popular during the 4th quarter valued at approximately $50,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Company Profile

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.