Popular, Inc. (NASDAQ:BPOP) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,832 shares of the bank’s stock after purchasing an additional 5,581 shares during the period. Federated Hermes Inc. owned approximately 0.32% of Popular worth $18,780,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Popular by 10.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,454 shares of the bank’s stock worth $1,268,000 after purchasing an additional 1,504 shares in the last quarter. Strs Ohio purchased a new position in Popular during the 4th quarter valued at about $1,636,000. Sequoia Financial Advisors LLC increased its holdings in shares of Popular by 198.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the bank’s stock valued at $1,209,000 after purchasing an additional 9,776 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Popular in the 4th quarter valued at about $2,330,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Popular in the fourth quarter worth approximately $1,563,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BPOP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Popular from $95.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Piper Sandler raised their price target on shares of Popular from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. StockNews.com raised shares of Popular from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Barclays started coverage on Popular in a report on Friday, March 8th. They set an “overweight” rating and a $99.00 target price on the stock. Finally, UBS Group boosted their target price on shares of Popular from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.63.

Popular Stock Up 1.7 %

NASDAQ:BPOP opened at $83.20 on Monday. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 11.05 and a beta of 0.82. The stock’s 50 day moving average price is $84.34 and its two-hundred day moving average price is $78.45. Popular, Inc. has a 12-month low of $52.32 and a 12-month high of $89.70.

Popular (NASDAQ:BPOP) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.89. The business had revenue of $702.92 million during the quarter, compared to the consensus estimate of $699.76 million. Popular had a return on equity of 12.63% and a net margin of 13.86%. Equities research analysts expect that Popular, Inc. will post 8.52 EPS for the current year.

Popular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 14th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, March 13th. Popular’s dividend payout ratio (DPR) is presently 32.93%.

Insider Buying and Selling

In other Popular news, EVP Luis E. Cestero sold 4,641 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.42, for a total value of $391,793.22. Following the sale, the executive vice president now owns 26,772 shares in the company, valued at $2,260,092.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Luis E. Cestero sold 599 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.65, for a total value of $51,304.35. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $2,272,208.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Luis E. Cestero sold 4,641 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $84.42, for a total transaction of $391,793.22. Following the sale, the executive vice president now directly owns 26,772 shares in the company, valued at $2,260,092.24. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.

Popular Profile

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.