KLP Kapitalforvaltning AS Invests $1.66 Million in Popular, Inc. (NASDAQ:BPOP)

KLP Kapitalforvaltning AS acquired a new stake in Popular, Inc. (NASDAQ:BPOP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,500 shares of the bank’s stock, valued at approximately $1,657,000.

Several other hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC lifted its holdings in Popular by 83.9% during the 3rd quarter. Cerity Partners LLC now owns 9,546 shares of the bank’s stock worth $957,000 after buying an additional 4,354 shares during the period. Bank of Montreal Can acquired a new position in shares of Popular in the third quarter worth approximately $2,337,000. Quantbot Technologies LP bought a new stake in Popular in the third quarter valued at approximately $506,000. Brooklyn Investment Group acquired a new stake in Popular during the 3rd quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets raised its holdings in Popular by 303.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,696 shares of the bank’s stock worth $2,376,000 after purchasing an additional 17,819 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Popular Price Performance

Shares of Popular stock opened at $91.52 on Friday. The business has a 50-day simple moving average of $97.98 and a 200 day simple moving average of $96.95. Popular, Inc. has a one year low of $80.60 and a one year high of $106.81. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate of $2.04 by $0.47. Popular had a return on equity of 11.89% and a net margin of 14.15%. On average, sell-side analysts expect that Popular, Inc. will post 10.06 EPS for the current year.

Popular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, March 18th. Popular’s payout ratio is presently 32.71%.

Insider Buying and Selling

In related news, EVP Gilberto Monzon sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the transaction, the executive vice president now directly owns 39,170 shares of the company’s stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the completion of the sale, the executive vice president now directly owns 32,866 shares of the company’s stock, valued at $3,418,721.32. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Popular from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group began coverage on shares of Popular in a research report on Tuesday, December 17th. They set a “neutral” rating and a $104.00 price target on the stock. Barclays lifted their price objective on Popular from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods upped their target price on Popular from $116.00 to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Popular from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

About Popular

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.