Popular (NASDAQ:BPOP) Hits New 12-Month High at $60.89

Popular Inc (NASDAQ:BPOP)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $60.89 and last traded at $60.79, with a volume of 5474 shares traded. The stock had previously closed at $60.09.

Several research firms recently commented on BPOP. BTIG Research restated a “buy” rating and set a $69.00 target price on shares of Popular in a research report on Tuesday. Zacks Investment Research downgraded Popular from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. BidaskClub downgraded Popular from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, ValuEngine upgraded Popular from a “strong sell” rating to a “sell” rating in a research report on Friday, January 3rd.

The firm has a market cap of $5.77 billion, a P/E ratio of 12.76 and a beta of 1.19. The company has a 50-day moving average of $58.00 and a 200 day moving average of $55.38.

Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.10. Popular had a return on equity of 11.40% and a net margin of 21.47%. The firm had revenue of $619.70 million during the quarter, compared to the consensus estimate of $624.80 million. During the same quarter in the previous year, the company posted $1.38 EPS. Research analysts anticipate that Popular Inc will post 6.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, December 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.20 annualized dividend and a dividend yield of 1.97%. Popular’s dividend payout ratio (DPR) is currently 25.16%.

In other Popular news, Director Joaquin E. Bacardi III sold 7,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.00, for a total value of $385,000.00. Following the completion of the transaction, the director now directly owns 29,722 shares of the company’s stock, valued at $1,634,710. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Javier D. Ferrer sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $55.20, for a total value of $358,800.00. The disclosure for this sale can be found here. Insiders sold a total of 33,961 shares of company stock valued at $1,890,377 over the last three months. Insiders own 1.33% of the company’s stock.

A number of large investors have recently bought and sold shares of BPOP. Nuveen Asset Management LLC grew its stake in Popular by 702.3% in the second quarter. Nuveen Asset Management LLC now owns 688,748 shares of the bank’s stock valued at $37,357,000 after acquiring an additional 602,904 shares during the period. Millennium Management LLC lifted its holdings in shares of Popular by 19,714.2% in the third quarter. Millennium Management LLC now owns 568,811 shares of the bank’s stock valued at $30,761,000 after purchasing an additional 571,711 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Popular by 344.4% in the second quarter. Point72 Asset Management L.P. now owns 548,705 shares of the bank’s stock valued at $29,762,000 after purchasing an additional 425,227 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Popular by 129.6% in the second quarter. UBS Asset Management Americas Inc. now owns 451,899 shares of the bank’s stock valued at $24,511,000 after purchasing an additional 255,044 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Popular by 292.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 208,485 shares of the bank’s stock valued at $11,308,000 after purchasing an additional 155,367 shares in the last quarter. 85.74% of the stock is owned by hedge funds and other institutional investors.

Popular Company Profile (NASDAQ:BPOP)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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