Popular, Inc. (NASDAQ:BPOP) Short Interest Update

Popular, Inc. (NASDAQ:BPOP) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 972,100 shares, a decrease of 16.2% from the December 31st total of 1,160,000 shares. Based on an average daily volume of 545,000 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the company’s stock are sold short.

Insider Transactions at Popular

In other Popular news, VP Adorno Denissa Rodriguez sold 1,825 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $97.71, for a total value of $178,320.75. Following the sale, the vice president now owns 3,332 shares in the company, valued at approximately $325,569.72. This represents a 35.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $347,060.00. Following the completion of the sale, the executive vice president now directly owns 25,115 shares of the company’s stock, valued at approximately $2,490,403.40. The trade was a 12.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,325 shares of company stock valued at $1,565,581. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Popular

Several hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in shares of Popular in the 3rd quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in shares of Popular in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group purchased a new stake in Popular in the third quarter worth about $47,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Popular during the 3rd quarter valued at $81,000. Finally, R Squared Ltd bought a new stake in shares of Popular in the 4th quarter worth approximately $166,000. Institutional investors own 87.27% of the company’s stock.

Popular Trading Down 2.9 %

Shares of Popular stock traded down $3.03 during trading hours on Monday, reaching $99.91. 454,915 shares of the company’s stock were exchanged, compared to its average volume of 480,801. The company has a 50 day moving average of $97.36 and a two-hundred day moving average of $97.44. Popular has a fifty-two week low of $80.60 and a fifty-two week high of $106.46. The stock has a market cap of $7.12 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.74 and a beta of 0.81.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. As a group, analysts expect that Popular will post 10.06 earnings per share for the current fiscal year.

Popular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $0.70 dividend. This is a positive change from Popular’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, December 6th. Popular’s dividend payout ratio is presently 32.71%.

Wall Street Analyst Weigh In

BPOP has been the topic of several research analyst reports. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler decreased their price objective on Popular from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. UBS Group initiated coverage on Popular in a research note on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Keefe, Bruyette & Woods upped their price target on shares of Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Barclays upped their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.25.

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.