Popular, Inc. (NASDAQ:BPOP) Short Interest Up 5.3% in April

Popular, Inc. (NASDAQ:BPOP) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 504,500 shares, a growth of 5.3% from the March 31st total of 479,000 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 484,700 shares, the days-to-cover ratio is presently 1.0 days.

Insider Transactions at Popular

In related news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares of the company’s stock, valued at approximately $2,260,092.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Popular news, EVP Luis E. Cestero sold 599 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $2,272,208.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the transaction, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates raised its position in shares of Popular by 11.3% in the 3rd quarter. Raymond James & Associates now owns 29,986 shares of the bank’s stock worth $1,889,000 after acquiring an additional 3,042 shares in the last quarter. Bailard Inc. raised its holdings in Popular by 93.6% in the third quarter. Bailard Inc. now owns 9,100 shares of the bank’s stock worth $573,000 after purchasing an additional 4,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Popular by 25.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,950 shares of the bank’s stock worth $879,000 after purchasing an additional 2,795 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Popular during the third quarter valued at $769,000. Finally, Advisor Partners II LLC bought a new stake in shares of Popular during the 3rd quarter valued at $434,000. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Popular Trading Up 2.2 %

Shares of Popular stock opened at $86.90 on Thursday. Popular has a 12-month low of $52.32 and a 12-month high of $89.70. The company has a market cap of $6.28 billion, a P/E ratio of 12.89, a PEG ratio of 0.80 and a beta of 0.81. The company’s fifty day simple moving average is $84.69 and its two-hundred day simple moving average is $79.63.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s dividend payout ratio is currently 36.80%.

Analysts Set New Price Targets

BPOP has been the topic of several recent research reports. UBS Group raised their price target on Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. StockNews.com upgraded shares of Popular from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $110.00 price target (up from $103.00) on shares of Popular in a report on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of Popular from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Hovde Group boosted their price objective on shares of Popular from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.89.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.