In a recent transaction reported to the Securities and Exchange Commission, Denissa Rodriguez Adorno, Senior Vice President and Comptroller of Popular, Inc. (NASDAQ:BPOP), sold 1,825 shares of the company's common stock. The shares were sold at prices ranging from $97.70 to $97.72 per share, resulting in a total transaction value of approximately $178,315. Following this sale, Rodriguez Adorno holds 3,332.283 shares directly. These transactions reflect routine portfolio adjustments by the executive, who remains a key figure in the company's financial operations.
In other recent news, Popular Inc (NASDAQ:BPOP). reported mixed Q3 results, revealing earnings per share (EPS) of $2.16. Despite a slight decrease in net interest income, the financial institution noted an increase in provisioning and a loan growth of 1.7% over the last quarter. The company also reported $1.9 billion in deposit outflows, primarily from the low-cost Puerto Rico retail segment, leading to a downward revision of the 2025 run rate.
Piper Sandler and RBC Capital have adjusted their price targets for Popular Inc., reducing them to $100.00 and $96.00 respectively, although both firms maintained their positive ratings on the stock. The adjustments followed the company's Q3 report and concerns about potential further deposit outflows that could negatively impact net interest income.
Popular Inc. also announced a net income of $155 million, down $23 million from the previous quarter, primarily due to a higher provision for credit losses. However, the company has started to act on its $500 million share repurchase authorization, having bought back 599,000 shares for $58.8 million during the quarter.
These are some of the recent developments for the company, which maintains a positive outlook and remains committed to achieving a long-term sustainable return on tangible common equity of 14%, despite the mixed results. Further guidance on the company's outlook is expected to be provided in January.
InvestingPro Insights
To provide additional context to the recent insider transaction at Popular, Inc. (NASDAQ:BPOP), let's examine some key financial metrics and insights from InvestingPro.
As of the latest data, Popular, Inc. boasts a market capitalization of $6.89 billion, with a price-to-earnings (P/E) ratio of 13.07. This relatively modest P/E ratio suggests that the stock may be reasonably valued compared to its earnings.
InvestingPro Tips highlight that Popular has maintained dividend payments for 10 consecutive years and has even raised its dividend for 5 consecutive years. This demonstrates the company's commitment to returning value to shareholders, which may be of interest to income-focused investors. The current dividend yield stands at 2.58%, offering a steady income stream.
Despite the recent insider sale, Popular's financial performance remains solid. The company's operating income margin for the last twelve months as of Q3 2024 was 29.72%, indicating strong profitability. Additionally, Popular has shown a robust 1-year price total return of 45.05%, significantly outperforming many of its peers in the banking sector.
It's worth noting that while the stock has performed well, it's currently trading at 91.36% of its 52-week high, suggesting there may still be room for growth. Analysts have set a fair value target of $103 per share, implying potential upside from the current trading levels.
For investors seeking more comprehensive analysis, InvestingPro offers 8 additional tips for Popular, Inc., providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.