Handelsbanken Fonder AB Acquires 5,800 Shares of Popular, Inc. $BPOP

Handelsbanken Fonder AB raised its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,639 shares of the bank’s stock after acquiring an additional 5,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Popular were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BPOP. True Wealth Design LLC raised its holdings in Popular by 262.9% in the 3rd quarter. True Wealth Design LLC now owns 352 shares of the bank’s stock worth $45,000 after purchasing an additional 255 shares during the period. Allworth Financial LP increased its position in Popular by 2,158.8% in the second quarter. Allworth Financial LP now owns 384 shares of the bank’s stock worth $42,000 after buying an additional 367 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Popular by 84.2% in the third quarter. Smartleaf Asset Management LLC now owns 593 shares of the bank’s stock worth $76,000 after buying an additional 271 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Popular by 63.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 682 shares of the bank’s stock valued at $87,000 after buying an additional 264 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Popular by 58.1% during the 3rd quarter. Clearstead Advisors LLC now owns 1,410 shares of the bank’s stock valued at $179,000 after acquiring an additional 518 shares during the period. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alejandro M. Sanchez sold 1,451 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $140.85, for a total value of $204,373.35. Following the sale, the director owned 3,415 shares in the company, valued at approximately $481,002.75. The trade was a 29.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alejandro M. Ballester sold 2,360 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $132.50, for a total transaction of $312,700.00. Following the sale, the director directly owned 57,449 shares in the company, valued at approximately $7,611,992.50. The trade was a 3.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.23% of the company’s stock.

Popular Stock Performance

Shares of NASDAQ BPOP opened at $136.20 on Wednesday. The company has a market cap of $9.08 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.86 and a beta of 0.61. Popular, Inc. has a 52-week low of $78.23 and a 52-week high of $149.31. The firm’s fifty day moving average is $133.97 and its two-hundred day moving average is $124.92.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $3.38 EPS for the quarter, beating the consensus estimate of $3.02 by $0.36. Popular had a net margin of 18.75% and a return on equity of 13.87%. The business had revenue of $806.59 million during the quarter, compared to the consensus estimate of $811.55 million. During the same quarter in the prior year, the firm earned $2.51 EPS. As a group, analysts forecast that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, March 18th. Popular’s dividend payout ratio (DPR) is currently 24.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BPOP shares. Truist Financial raised their target price on shares of Popular from $153.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Popular in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Popular from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their price target on Popular from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada boosted their price objective on Popular from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $156.55.

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.