On Friday, August 26, Carlos J. Vazquez, Chief Financial Officer of Popular, Inc. (NASDAQ: BPOP), disposed of 9,635 shares of the company’s common stock. The stock sale resulted in total revenue of $774,461.30 with an average price of $80.38 for each purchased share. Following the successful conclusion of the transaction, the chief financial officer is now the direct owner of 118,015 shares in the company. The total value of these shares is $9,486,045.70. If you follow the link, you will be sent to a legal file maintained by the SEC. Within this file, you can see details regarding the transaction. NASDAQ: BPOP was first available for trading on Tuesday with an opening price of $78.40. The company has seen a moving average of $80.83 over the previous 200 days, while the moving average for the last fifty days is $78.39. Currently, one share of Popular, Inc. can be purchased for a price of $70.00, while the 52-week high for the stock is $99.49. The company has a price-to-earnings ratio of 7.04, and its beta value is 0.91. The market capitalization of the company is $5.88 billion. On Thursday, July 28, Popular (NASDAQ: BPOP) released its most recent earnings report.
The bank announced profits per share (EPS) for the quarter of $2.77, which was $0.25 better than the $2.52 industry analysts projected report. Popular successfully generated a return on equity of 16.82%, and its net margin was 31.09% throughout this period. The company announced sales for the quarter that came in at $681.90 million, which was much more than the average projection of $656.27 million. The company reported $2.66 per share earnings for the same period in the prior year’s financial statements. Compared to the same period during the previous fiscal year, Popular experienced a growth in its quarterly revenue of 3.4%. Sell-side analysts forecast that Popular, Inc. will achieve a profit of 10.8 cents per share during the current financial year. In addition, the business has announced the payment of a quarterly dividend, which will take place on the following Monday, October 3. On September 7, owners of record will be eligible to receive a dividend payment of $0.55 per share. This payment will be made available to them. The date of Tuesday, September 6, will now be ignored when calculating the total amount of dividends accumulated. Consequently, the annual dividend payment will be $2.20, and the annual dividend yield will be 2.81%. At this time, Popular has a payout percentage of 19.77%. Many research publications have been written about the BPOP and their investigations into the program. In a report published on August 4, Bloomberg upgraded the “hold” rating that it had previously given to Popular to a “buy” rating. Previously, the rating had been “hold.” Popular shares indicated in a public research note on the 4th of July that they are currently aiming for a price of $100.00 for Popular shares.
There have been five people who specialize in equity research who have recommended buying the stock. All of these people have made this recommendation. According to Bloomberg, the company is currently being recommended with a “Buy” rating on average, and the overall price goal for the company has been established at $109.60. Institutional investors have recently made adjustments to the number of shares of the company that they hold in their portfolios. Goldman Sachs Group Inc. boosted the proportion of popular stock owned by 394.0% during the year’s second quarter. The most recent quarter saw Goldman Sachs Group Inc. acquire 883,818 shares of the bank’s stock, bringing the total number of shares owned by the firm to 1,108,132 with a value of $85,249,000. This brings the total number of shares owned by the company to 1,108,132. Lord Abbett & Co. LLC grew its ownership of popular stocks by 59.0% during the first three months of the year, an increase from the previous year’s percentage of ownership. The total number of shares in the bank has increased to 901,588 due to their most recent purchase of 334,727 additional shares. The current value of Lord Abbett & Co. LLC’s interests in the bank’s stock, as determined by the market, is $73,696,000. During the final three months of 2018, Allianz Asset Management GmbH achieved a 56.8% increase in the proportion of popular stocks it owned. Allianz Asset Management GmbH currently has 756,326 shares of the bank’s stock, with an estimated market value of $62,049,000.
This is after purchasing an additional 273,996 shares throughout the prior quarter. Principal Financial Group Inc. boosted the percentage of popular stock owned by 4,587.9% throughout the year’s first three months. Because they purchased an additional 244,400 shares during the most recent quarter, Principal Financial Group Inc. now has 249,727 shares of the bank’s stock. The stock is currently valued at $20,412,000 because of Principal Financial Group Inc. Last but not least, over the final three months of 2018, Millennium Management LLC had a 174.7% increase in the proportion of popular stock that it owned. Millennium Management LLC now has 372,392 shares of the bank’s stock, valued at $30,551,000, thanks to the acquisition of an additional 236,834 shares over the previous three months. Institutional investors and hedge funds collectively own 91.48% of the total number of shares in the company, making up the majority of the shareholders.
Through its subsidiaries, Popular, Inc. provides customers in Puerto Rico, the United States of America, and the British Virgin Islands with a comprehensive selection of retail, mortgage, and commercial banking products and services. There is a large variety of demand accounts that pay interest, in addition to demand deposits that do not earn interest and certificates of deposit. These demand accounts include savings, NOW, money market, and other accounts. Demand deposits do not earn interest.
