Insider Selling: Popular (NASDAQ:BPOP) EVP Sells $1,499,060.00 in Stock

Popular, Inc. (NASDAQ:BPOP) EVP Luis Cestero sold 8,500 shares of the company’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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Popular Trading Down 1.2%

BPOP opened at $174.04 on Friday. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.67 and a beta of 0.61. Popular, Inc. has a 12-month low of $108.74 and a 12-month high of $179.00. The business’s fifty day simple moving average is $165.94 and its 200-day simple moving average is $149.31.

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

Institutional Trading of Popular

Several hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its holdings in Popular by 10.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 187,671 shares of the bank’s stock worth $23,369,000 after purchasing an additional 17,148 shares during the last quarter. UBS Group AG lifted its holdings in shares of Popular by 28.1% during the 4th quarter. UBS Group AG now owns 540,646 shares of the bank’s stock valued at $67,321,000 after purchasing an additional 118,496 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Popular by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 1,405,575 shares of the bank’s stock worth $175,057,000 after purchasing an additional 64,778 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Popular in the 4th quarter worth $2,038,000. Finally, Oak Thistle LLC grew its stake in Popular by 167.8% during the 4th quarter. Oak Thistle LLC now owns 12,692 shares of the bank’s stock worth $1,580,000 after buying an additional 7,953 shares during the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Popular from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. UBS Group lifted their price objective on shares of Popular from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, April 24th. Barclays boosted their price objective on shares of Popular from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upped their target price on Popular from $190.00 to $207.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Truist Financial increased their target price on Popular from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $185.25.

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.