Popular Inc (BPOP) Short Interest Up 8.7% in May
Popular Inc (NASDAQ:BPOP) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 1,178,822 shares, a growth of 8.7% from the April 28th total of 1,084,132 shares. Based on an average daily volume of 434,027 shares, the short-interest ratio is currently 2.7 days.
Shares of Popular (NASDAQ:BPOP) traded down 0.81% during trading on Friday, reaching $37.87. 296,888 shares of the company traded hands. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 17.70 and a beta of 1.58. The company has a 50 day moving average price of $40.01 and a 200 day moving average price of $42.04. Popular has a 12-month low of $26.72 and a 12-month high of $45.96.
Popular (NASDAQ:BPOP) last posted its earnings results on Tuesday, April 25th. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. Popular had a net margin of 11.02% and a return on equity of 6.73%. The business had revenue of $477.97 million for the quarter, compared to the consensus estimate of $441.33 million. During the same period last year, the company earned $0.81 EPS. On average, equities analysts predict that Popular will post $3.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.00 annualized dividend and a yield of 2.64%. Popular’s dividend payout ratio is presently 29.27%.
BPOP has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered shares of Popular from a “market perform” rating to an “underperform” rating in a research report on Monday, February 6th. Jefferies Group LLC lowered shares of Popular from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Kepler Capital Markets reiterated a “reduce” rating on shares of Popular in a research report on Wednesday, February 22nd. BTIG Research reiterated a “neutral” rating on shares of Popular in a research report on Saturday, April 22nd. Finally, TheStreet upgraded shares of Popular from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.40.
In other news, 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 transaction of $152,600.00. Following the transaction, the vice president now directly owns 11,502 shares in the company, valued at $438,801.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider O. Rivera Nestor sold 11,312 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $41.52, for a total transaction of $469,674.24. The disclosure for this sale can be found here. Insiders have sold 22,806 shares of company stock worth $932,921 over the last quarter. 1.28% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC acquired a new stake in Popular during the third quarter valued at approximately $141,000. Sciencast Management LP acquired a new stake in Popular during the fourth quarter valued at approximately $202,000. First Republic Investment Management Inc. acquired a new stake in Popular during the fourth quarter valued at approximately $208,000. Boothbay Fund Management LLC acquired a new stake in Popular during the fourth quarter valued at approximately $259,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Popular during the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 86.22% of the company’s stock.
Popular Company Profile
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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