Traders buy a high volume of put options on Popular (NASDAQ: BPOP)

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Popular, Inc. (NASDAQ: BPOP) saw unusual options trading activity on Tuesday. Equity investors bought 2,721 puts on the company. This is an increase of approximately 2,374% over the typical volume of 110 puts.

Popular action opened at $ 81.90 on Wednesday. The company has a market cap of $ 6.60 billion, a P / E ratio of 9.40 and a beta of 1.23. Popular has a one-year low at $ 34.05 and a one-year high at $ 83.72. The company’s fifty-day simple moving average is $ 74.98.

Popular (NASDAQ: BPOP) last reported its results on Wednesday, April 28. The bank reported EPS of $ 3.12 for the quarter, beating the consensus estimate of $ 1.91 by $ 1.21. The company posted revenue of $ 632.77 million for the quarter, compared to a consensus estimate of $ 609.12 million. Popular had a net margin of 28.17% and a return on equity of 12.47%. In the same quarter of last year, the company posted $ 0.37 in EPS. Research analysts predict that Popular will post 9.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1. Investors of record on Wednesday, May 26 will receive a dividend of $ 0.45. This represents an annualized dividend of $ 1.80 and a return of 2.20%. The ex-dividend date of this dividend is Tuesday, May 25. This is an increase from Popular’s previous quarterly dividend of $ 0.40. Popular’s dividend payout ratio (DPR) is 30.66%.

In other Popular news, Executive Vice President Eduardo J. Negron sold 10,000 Popular shares in a trade on Tuesday, May 4. The shares were sold at an average price of $ 74.92, for a total trade of $ 749,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In addition, EVP Camille Burckhart sold 7,000 Popular shares in a trade on Thursday, May 6. The shares were sold at an average price of $ 77.45, for a total trade of $ 542,150.00. Disclosure of this sale can be found here. Insiders have sold a total of 17,033 shares of the company valued at $ 1,293,863 in the past three months. Company insiders own 1.69% of the company’s shares.

A number of institutional investors and hedge funds have recently changed their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Popular by 16.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,308,512 shares of the bank valued at $ 298,975,000 after acquiring an additional 738,338 shares during the period. Dimensional Fund Advisors LP increased its holdings in Popular by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,207,127 shares of the bank valued at $ 296,479,000 after acquiring an additional 134,439 shares during the period. BlackRock Inc. increased its position in Popular by 6.3% in the 1st quarter. BlackRock Inc. now owns 3,923,144 shares of the bank valued at $ 275,876,000 after purchasing an additional 231,143 shares during the last quarter. Ameriprise Financial Inc. increased its position in Popular by 14.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,776,838 shares of the bank valued at $ 195,272,000 after purchasing an additional 351,097 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Popular by 3,729.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,362,924 shares of the bank valued at $ 133,080,000 after purchasing an additional 2,301,216 shares in the last quarter. Hedge funds and other institutional investors hold 89.59% of the company’s shares.

BPOP has been the subject of several research reports. Zacks investment research raised Popular’s shares from a “keep” rating to a “buy” rating and set a target price of $ 79.00 for the company in a research note on Friday, April 2. Citigroup Inc. Russell-based capital protected 3% minimum coupon raised its price target on Popular shares from $ 69.00 to $ 83.00 and gave the company a “buy” rating in a report published on Wednesday April 14. Citigroup raised its price target on Popular’s shares from $ 69 to $ 83 in a report released on Wednesday, April 14. Finally, the Royal Bank of Canada raised its price target for Popular shares from $ 70.00 to $ 83.00 and gave the company an “outperformance” rating in a report released on Thursday, April 29. Six equity research analysts rated the stock with a buy rating. The company currently has an average rating of “Buy” and an average price target of $ 78.17.

Popular company profile

Popular, Inc., through its subsidiaries, provides a variety of retail, mortgage and commercial banking products and services in Puerto Rico and the United States. The company provides NOW money market savings accounts and other interest bearing demand accounts; demand deposits not bearing interest; and certificates of deposit.

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