Insider Selling: Popular Inc (BPOP) VP Sells 4,000 Shares of Stock
Popular Inc (NASDAQ:BPOP) VP Jorge J. Garcia sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $38.15, for a total value of $152,600.00. Following the completion of the transaction, the vice president now directly owns 11,502 shares in the company, valued at $438,801.30. The transaction was disclosed in a filing with the SEC, which is available at this link.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $477.97 million during the quarter, compared to the consensus estimate of $441.33 million. Popular had a net margin of 11.02% and a return on equity of 6.73%. During the same quarter in the prior year, the firm posted $0.81 earnings per share.
BPOP has been the topic of several research analyst reports. TheStreet raised Popular from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. BTIG Research reissued a “neutral” rating on shares of Popular in a report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $46.00 price target on Popular and gave the company a “hold” rating in a report on Monday, April 3rd. Kepler Capital Markets reissued a “reduce” rating on shares of Popular in a report on Wednesday, February 22nd. Finally, Jefferies Group LLC cut Popular from a “buy” rating to a “hold” rating in a report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Popular presently has a consensus rating of “Hold” and a consensus price target of $46.40.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Popular by 13,970.4% in the first quarter. BlackRock Inc. now owns 4,465,650 shares of the bank’s stock worth $181,886,000 after buying an additional 4,433,912 shares during the period. Egerton Capital UK LLP purchased a new position in shares of Popular during the third quarter worth $73,062,000. Russell Investments Group Ltd. purchased a new position in shares of Popular during the fourth quarter worth $60,126,000. AQR Capital Management LLC increased its position in shares of Popular by 81.4% in the fourth quarter. AQR Capital Management LLC now owns 2,418,718 shares of the bank’s stock worth $105,988,000 after buying an additional 1,085,518 shares during the period. Finally, Norges Bank purchased a new position in shares of Popular during the fourth quarter worth $39,980,000. Institutional investors and hedge funds own 86.22% of the company’s stock.
Popular, Inc (Popular) is a financial holding company. The Company operates in two segments: Banco Popular de Puerto Rico (BPPR), which includes its Puerto Rico business, and Banco Popular North America (BPNA), which includes its the United States mainland business. The Company has operations in Puerto Rico, the United States and the Caribbean.
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