American Century Companies Inc. Boosts Stake in Popular, Inc. (NASDAQ:BPOP)

American Century Companies Inc. raised its holdings in shares of Popular, Inc. (NASDAQ:BPOP) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,362,875 shares of the bank’s stock after buying an additional 39,999 shares during the period. American Century Companies Inc.’s holdings in Popular were worth $128,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Popular during the 4th quarter valued at $27,000. Picton Mahoney Asset Management lifted its position in shares of Popular by 56.7% during the fourth quarter. Picton Mahoney Asset Management now owns 326 shares of the bank’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Popular during the third quarter valued at $47,000. Smartleaf Asset Management LLC grew its holdings in shares of Popular by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 603 shares of the bank’s stock worth $57,000 after purchasing an additional 218 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Popular in the 3rd quarter worth about $81,000. Institutional investors own 87.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BPOP shares. Royal Bank of Canada boosted their price objective on shares of Popular from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Popular from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on Popular from $116.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group assumed coverage on Popular in a report on Tuesday, December 17th. They issued a “neutral” rating and a $104.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Popular from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.00.

Popular Price Performance

Shares of NASDAQ BPOP opened at $91.37 on Monday. Popular, Inc. has a 1-year low of $80.60 and a 1-year high of $106.81. The business has a fifty day moving average price of $98.48 and a 200 day moving average price of $97.11. The stock has a market capitalization of $6.36 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77.

Popular (NASDAQ:BPOP) last released its quarterly earnings results 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 net margin of 14.15% and a return on equity of 11.89%. As a group, equities research analysts anticipate that Popular, Inc. will post 10.06 earnings per share for the current fiscal year.

Popular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, March 18th. Popular’s dividend payout ratio is currently 32.71%.

Insider Transactions at Popular

In other news, EVP Eduardo J. Negron sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $104.02, for a total transaction of $1,040,200.00. Following the transaction, the executive vice president now owns 32,866 shares in the company, valued at $3,418,721.32. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

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.