Federated Hermes Inc. Purchases 5,555 Shares of Popular, Inc. $BPOP

Federated Hermes Inc. boosted its position in shares of Popular, Inc. (NASDAQ:BPOP) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,973 shares of the bank’s stock after acquiring an additional 5,555 shares during the quarter. Federated Hermes Inc.’s holdings in Popular were worth $31,622,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC increased its stake in shares of Popular by 2.5% during the 3rd quarter. Baron Wealth Management LLC now owns 3,597 shares of the bank’s stock worth $457,000 after purchasing an additional 87 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in Popular by 0.6% during the third quarter. KLP Kapitalforvaltning AS now owns 17,000 shares of the bank’s stock worth $2,171,000 after purchasing an additional 100 shares during the period. Nebula Research & Development LLC increased its position in Popular by 1.3% during the second quarter. Nebula Research & Development LLC now owns 9,579 shares of the bank’s stock worth $1,056,000 after buying an additional 119 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in Popular by 0.5% in the second quarter. Greenwich Wealth Management LLC now owns 28,267 shares of the bank’s stock valued at $3,115,000 after buying an additional 130 shares during the period. Finally, Forum Financial Management LP lifted its position in shares of Popular by 6.2% in the second quarter. Forum Financial Management LP now owns 2,671 shares of the bank’s stock valued at $294,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Popular Stock Up 0.2%

NASDAQ BPOP opened at $133.53 on Friday. The firm has a 50-day moving average price of $123.66 and a two-hundred day moving average price of $120.62. Popular, Inc. has a 12-month low of $78.23 and a 12-month high of $134.27. The company has a market capitalization of $8.90 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.55 and a beta of 0.63.

Popular (NASDAQ:BPOP) last announced its earnings results on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, topping the consensus estimate of $3.02 by $0.36. The company had revenue of $815.98 million for the quarter, compared to analysts’ expectations of $811.55 million. Popular had a net margin of 18.75% and a return on equity of 13.87%. During the same period last year, the firm earned $2.51 earnings per share. Equities analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, December 5th. Popular’s dividend payout ratio is presently 24.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BPOP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a report on Wednesday, January 21st. Hovde Group lifted their price objective on shares of Popular from $153.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler started coverage on shares of Popular in a research report on Thursday, January 15th. They issued an “overweight” rating and a $152.00 price objective on the stock. Citigroup lifted their target price on shares of Popular from $144.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on shares of Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

Insiders Place Their Bets

In related news, Director Richard L. Carrion sold 25,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $2,837,500.00. Following the completion of the sale, the director owned 193,020 shares of the company’s stock, valued at $21,907,770. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $114.84, for a total transaction of $114,840.00. Following the sale, the vice president owned 2,604 shares in the company, valued at $299,043.36. The trade was a 27.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.09% of the company’s stock.

About Popular

Popular, Inc, headquartered in San Juan, Puerto Rico, is a financial holding company and a leading provider of banking services in the United States mainland and Puerto Rico. Through its primary subsidiaries—Banco Popular de Puerto Rico and Popular Bank—the company delivers comprehensive commercial and consumer banking solutions. It offers deposit products, lending facilities, cash management services and payment-processing solutions designed for individuals, small businesses and large corporations.

The company’s product suite encompasses checking and savings accounts, certificates of deposit, residential and commercial mortgage loans, business lines of credit and credit cards.