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

Popular, Inc. (NASDAQ:BPOP - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,430,000 shares, an increase of 38.8% from the February 28th total of 1,030,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 562,500 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BPOP shares. StockNews.com downgraded Popular from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. UBS Group assumed coverage on shares of Popular in a report on Tuesday, December 17th. They issued a "neutral" rating and a $104.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Popular from $116.00 to $129.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Barclays upped their price target on shares of Popular from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their price target on shares of Popular from $105.00 to $110.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $113.00.

Popular Stock Performance

Shares of NASDAQ BPOP traded down $9.05 during midday trading on Thursday, reaching $84.01. The stock had a trading volume of 780,381 shares, compared to its average volume of 456,278. The company's 50 day moving average price is $97.16 and its 200 day moving average price is $96.76. Popular has a twelve month low of $80.60 and a twelve month high of $106.81. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Popular (NASDAQ:BPOP - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $2.51 earnings per share (EPS) 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%. Equities analysts forecast that Popular will post 10.06 earnings per share for the current fiscal year.

Popular Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Popular's payout ratio is 32.71%.

Insider Buying and Selling at Popular

In other news, EVP Eduardo J. Negron sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $104.02, for a total value of $1,040,200.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at approximately $4,017,666.90. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.09% of the company's stock.

Institutional Investors Weigh In On Popular

Large investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new position in shares of Popular during the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management lifted its position 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 during the period. Smartleaf Asset Management LLC boosted its stake in Popular by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank's stock worth $57,000 after acquiring an additional 218 shares in the last quarter. Versant Capital Management Inc grew its holdings in Popular by 589.9% in the first quarter. Versant Capital Management Inc now owns 821 shares of the bank's stock worth $76,000 after purchasing an additional 702 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Popular in the third quarter valued at $81,000. Institutional investors and hedge funds own 87.27% of the company's stock.

About Popular

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.