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

Popular, Inc. (NASDAQ:BPOP) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,030,000 shares, an increase of 27.7% from the February 13th total of 806,300 shares. Based on an average daily trading volume, of 504,600 shares, the short-interest ratio is presently 2.0 days. Currently, 1.5% of the company’s stock are short sold.

Popular Trading Up 2.6 %

NASDAQ BPOP opened at $90.11 on Monday. The stock’s 50 day moving average is $98.85 and its two-hundred day moving average is $97.49. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.75 and a beta of 0.77. Popular has a 1-year low of $80.60 and a 1-year high of $106.81.

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

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s payout ratio is currently 32.71%.

Analyst Ratings Changes

A number of research firms have recently commented on BPOP. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Popular from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group initiated coverage on Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 target price on the stock. Finally, Barclays lifted their target price on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Insider Buying and Selling at Popular

In other news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $102.57, for a total value of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares in the company, valued at approximately $4,017,666.90. The trade was a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eduardo J. Negron sold 10,000 shares of Popular stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total value of $1,040,200.00. Following the completion of the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management boosted its holdings in shares of Popular by 56.7% in the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Brooklyn Investment Group bought a new position in Popular in the 3rd quarter worth approximately $47,000. Smartleaf Asset Management LLC raised its position in Popular by 56.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Popular in the 3rd quarter worth approximately $81,000. Finally, R Squared Ltd bought a new position in Popular in the 4th quarter worth approximately $166,000. 87.27% of the stock is owned by institutional investors and hedge funds.

Popular Company Profile

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.