Popular (NASDAQ:BPOP) EVP Maria Cristin Gonzalez-Noguera Sells 6,200 Shares

Key Points

• Maria Cristin Gonzalez-Noguera, EVP of Popular, sold 6,200 shares on May 1 at an average price of $148.51 for a total of $920,762, leaving her with 11,255 shares — a 35.52% reduction in her holdings.
• Popular beat quarterly EPS estimates with $3.78 vs. $3.30 consensus, though revenue of $822.6M missed estimates; the quarter showed a 14.65% return on equity and a 20.10% net margin.
• Wall Street sentiment is broadly positive (11 Buys, 1 Hold) with a consensus price target of $168.73; BPOP trades around $148, has a market cap of ~$9.62B and a PE of 10.93.

Popular, Inc. (NASDAQ:BPOP - Get Free Report) EVP Maria Cristin Gonzalez-Noguera sold 6,200 shares of Popular stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.51, for a total transaction of $920,762.00. Following the sale, the executive vice president directly owned 11,255 shares of the company's stock, valued at $1,671,480.05. This represents a 35.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Popular Stock Performance

BPOP traded down $1.31 during trading on Monday, reaching $148.04. The stock had a trading volume of 499,232 shares, compared to its average volume of 560,771. The business has a 50-day moving average of $138.97 and a 200-day moving average of $129.11. Popular, Inc. has a one year low of $97.08 and a one year high of $152.95. The stock has a market cap of $9.62 billion, a PE ratio of 10.93, a PEG ratio of 0.75 and a beta of 0.63.

Popular (NASDAQ:BPOP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $3.78 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.48. Popular had a return on equity of 14.65% and a net margin of 20.10%.The business had revenue of $822.63 million for the quarter, compared to the consensus estimate of $866.54 million. During the same quarter last year, the business posted $2.56 earnings per share. Equities research analysts forecast that Popular, Inc. will post 14.84 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.0%. Popular's dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analyst Weigh In

BPOP has been the subject of several research reports. Bank of America raised Popular from a "neutral" rating to a "buy" rating and set a $156.00 target price for the company in a research note on Tuesday, February 3rd. UBS Group upped their target price on Popular from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Barclays upped their target price on Popular from $175.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Truist Financial upped their target price on Popular from $153.00 to $164.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Finally, Credit Suisse Group set a $156.00 target price on Popular in a research note on Tuesday, February 3rd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $168.73.

Institutional Trading of Popular

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Popular by 23.1% in the first quarter. Royal Bank of Canada now owns 94,352 shares of the bank's stock worth $8,715,000 after purchasing an additional 17,729 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Popular during the 1st quarter valued at $257,000. Goldman Sachs Group Inc. grew its holdings in Popular by 60.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 223,530 shares of the bank's stock worth $20,647,000 after acquiring an additional 84,327 shares during the last quarter. Focus Partners Wealth bought a new stake in Popular in the 1st quarter worth $207,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of Popular in the second quarter valued at about $252,000. Institutional investors own 87.27% of the company's stock.

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.

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