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

Popular, Inc. (NASDAQ:BPOP) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 834,600 shares, a drop of 14.1% from the January 15th total of 972,100 shares. Based on an average daily volume of 500,400 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.2% of the company’s shares are sold short.

Popular Trading Up 1.4 %

NASDAQ:BPOP traded up $1.41 during midday trading on Monday, hitting $104.41. 446,595 shares of the stock were exchanged, compared to its average volume of 459,677. Popular has a one year low of $80.60 and a one year high of $106.46. The business has a 50-day moving average price of $97.92 and a two-hundred day moving average price of $97.51. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 0.75 and a beta of 0.82.

Popular (NASDAQ:BPOP) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a net margin of 14.15% and a return on equity of 11.89%. Sell-side analysts forecast that Popular will post 10.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler lowered their price target on Popular from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded shares of Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Barclays increased their price target on Popular from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, UBS Group initiated coverage on Popular in a report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.25.

Insider Buying and Selling at Popular

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

Institutional Investors Weigh In On Popular

A number of institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new stake in shares of Popular during the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Popular during the 3rd quarter valued at $29,000. Picton Mahoney Asset Management grew its holdings in shares of Popular by 56.7% during the 4th quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock valued at $31,000 after acquiring an additional 118 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Popular during the third quarter worth $35,000. Finally, Brooklyn Investment Group acquired a new stake in Popular during the third quarter valued at $47,000. 87.27% of the stock is currently 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.