Popular, Inc. (NASDAQ:BPOP) EVP Camille Burckhart Sells 7,000 Shares

Popular, Inc. (NASDAQ:BPOP - Get Free Report) EVP Camille Burckhart sold 7,000 shares of Popular stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $104.14, for a total value of $728,980.00. Following the sale, the executive vice president now directly owns 27,382 shares of the company's stock, valued at $2,851,561.48. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Popular Stock Down 0.3%

Shares of BPOP stock traded down $0.30 during trading hours on Thursday, hitting $103.82. 432,977 shares of the company's stock were exchanged, compared to its average volume of 515,141. Popular, Inc. has a fifty-two week low of $78.23 and a fifty-two week high of $106.81. The firm has a market cap of $7.11 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.75 and a beta of 0.60. The firm has a 50 day moving average of $95.31 and a two-hundred day moving average of $96.53.

Popular (NASDAQ:BPOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.56 EPS for the quarter, topping the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The firm had revenue of $755.46 million during the quarter, compared to analysts' expectations of $760.45 million. During the same period in the previous year, the business earned $1.43 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, May 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, May 29th. Popular's payout ratio is 28.90%.

Wall Street Analyst Weigh In

BPOP has been the subject of a number of analyst reports. Wells Fargo & Company raised Popular from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $110.00 to $100.00 in a report on Wednesday, April 9th. Barclays reissued an "overweight" rating and issued a $125.00 price target (up from $115.00) on shares of Popular in a report on Thursday, April 24th. Hovde Group decreased their price target on Popular from $118.00 to $114.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen cut Popular from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods upped their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.43.

Institutional Trading of Popular

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Popular in the 4th quarter valued at $79,842,000. Massachusetts Financial Services Co. MA grew its holdings in Popular by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,418,729 shares of the bank's stock valued at $133,446,000 after buying an additional 515,798 shares in the last quarter. AQR Capital Management LLC grew its holdings in Popular by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 1,432,599 shares of the bank's stock valued at $129,722,000 after buying an additional 495,325 shares in the last quarter. First Trust Advisors LP grew its holdings in Popular by 53.8% in the 4th quarter. First Trust Advisors LP now owns 1,312,952 shares of the bank's stock valued at $123,496,000 after buying an additional 459,231 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Popular by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,192,769 shares of the bank's stock valued at $394,373,000 after buying an additional 201,067 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

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.