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

Federated Hermes Inc. boosted its stake in Popular, Inc. (NASDAQ:BPOP) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,973 shares of the bank’s stock after purchasing an additional 5,555 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Popular worth $31,622,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in shares of Popular by 39.8% during the 3rd quarter. Truist Financial Corp now owns 3,816 shares of the bank’s stock worth $485,000 after buying an additional 1,087 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Popular during the 3rd quarter worth approximately $551,000. Teacher Retirement System of Texas boosted its stake in Popular by 8.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 25,193 shares of the bank’s stock worth $3,200,000 after acquiring an additional 2,007 shares during the last quarter. Bailard Inc. acquired a new position in Popular during the third quarter valued at approximately $559,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Popular by 39.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,307 shares of the bank’s stock valued at $10,962,000 after purchasing an additional 24,197 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BPOP. Zacks Research cut shares of Popular from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. UBS Group reaffirmed a “neutral” rating on shares of Popular in a research note on Tuesday, January 6th. Truist Financial boosted their target price on Popular from $153.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price target on Popular from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Popular from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Popular currently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

Popular Stock Performance

NASDAQ:BPOP opened at $133.53 on Friday. The stock has a 50-day simple moving average of $123.66 and a 200 day simple moving average of $120.62. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $134.27. The company has a market cap of $8.90 billion, a PE ratio of 10.84, a PEG ratio of 0.55 and a beta of 0.63.

Popular (NASDAQ:BPOP) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.36. The firm had revenue of $815.98 million during the quarter, compared to the consensus estimate of $811.55 million. Popular had a return on equity of 13.87% and a net margin of 18.75%.During the same quarter in the prior year, the firm posted $2.51 EPS. On average, research analysts predict that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

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

Insider Buying and Selling at Popular

In related news, Director Richard L. Carrion sold 25,000 shares of Popular stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $113.50, for a total value of $2,837,500.00. Following the sale, the director owned 193,020 shares of the company’s stock, valued at approximately $21,907,770. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adorno Denissa Rodriguez sold 1,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $114.84, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. 2.09% of the stock is currently owned by insiders.

Popular Company Profile

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.