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

Popular, Inc. (NASDAQ:BPOP) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,160,000 shares, a growth of 7.4% from the December 15th total of 1,080,000 shares. Based on an average trading volume of 529,600 shares, the short-interest ratio is presently 2.2 days. Currently, 1.7% of the company’s shares are short sold.

Popular Stock Up 0.9 %

Shares of NASDAQ BPOP traded up $0.93 during trading hours on Friday, hitting $99.64. 452,885 shares of the stock were exchanged, compared to its average volume of 407,504. Popular has a 12 month low of $79.50 and a 12 month high of $105.01. The firm has a fifty day moving average price of $96.36 and a 200-day moving average price of $96.68. The company has a market cap of $7.11 billion, a PE ratio of 13.54, a PEG ratio of 0.60 and a beta of 0.81.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.17). The business had revenue of $736.56 million for the quarter, compared to analyst estimates of $766.62 million. Popular had a return on equity of 11.35% and a net margin of 12.36%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, equities analysts anticipate that Popular will post 8.41 earnings per share for the current fiscal year.

Popular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, December 6th. This is an increase from Popular’s previous quarterly dividend of $0.62. Popular’s dividend payout ratio (DPR) is currently 38.04%.

Analysts Set New Price Targets

BPOP has been the subject of a number of research analyst reports. UBS Group began coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price for the company. Piper Sandler lowered their price objective on shares of Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays raised their target price on shares of Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods upped their price target on shares of Popular from $103.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Popular from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.25.

Insider Buying and Selling

In related news, VP Adorno Denissa Rodriguez sold 1,825 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $97.71, for a total value of $178,320.75. Following the transaction, the vice president now owns 3,332 shares of the company’s stock, valued at $325,569.72. This trade represents a 35.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz Castellvi sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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. This trade represents a 12.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Popular

Large investors have recently modified their holdings of the business. Financial Management Professionals Inc. acquired a new stake in Popular in the 3rd quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in Popular during the 3rd quarter worth about $35,000. Brooklyn Investment Group purchased a new stake in Popular during the 3rd quarter valued at about $47,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Popular in the third quarter valued at about $81,000. Finally, Arcus Capital Partners LLC purchased a new position in shares of Popular in the third quarter worth about $201,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

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.