American Century Companies Inc. Has $107.78 Million Stock Position in Popular, Inc. (NASDAQ:BPOP)

American Century Companies Inc. grew its holdings in Popular, Inc. (NASDAQ:BPOP) by 10.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,218,828 shares of the bank’s stock after purchasing an additional 113,838 shares during the period. American Century Companies Inc. owned about 1.69% of Popular worth $107,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BPOP. Principal Securities Inc. acquired a new position in Popular during the fourth quarter worth $83,000. QRG Capital Management Inc. grew its position in shares of Popular by 23.6% in the 4th quarter. QRG Capital Management Inc. now owns 4,410 shares of the bank’s stock valued at $362,000 after acquiring an additional 843 shares during the period. Boston Partners increased its stake in shares of Popular by 100.5% during the 4th quarter. Boston Partners now owns 28,475 shares of the bank’s stock worth $2,337,000 after purchasing an additional 14,275 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Popular by 13.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,085 shares of the bank’s stock worth $499,000 after purchasing an additional 729 shares during the last quarter. Finally, Inceptionr LLC bought a new stake in shares of Popular in the 4th quarter valued at about $201,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Camille Burckhart sold 5,917 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $97.60, for a total value of $577,499.20. Following the completion of the transaction, the executive vice president now directly owns 29,922 shares in the company, valued at approximately $2,920,387.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.09% of the company’s stock.

Popular Stock Up 1.6 %

Shares of Popular stock opened at $97.57 on Friday. The company has a 50-day simple moving average of $97.82 and a two-hundred day simple moving average of $90.32. Popular, Inc. has a twelve month low of $59.27 and a twelve month high of $105.01. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 0.65 and a beta of 0.78.

Popular (NASDAQ:BPOP) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.38. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $751.57 million. Popular had a return on equity of 11.73% and a net margin of 12.20%. During the same quarter in the prior year, the business posted $2.10 earnings per share. On average, sell-side analysts anticipate that Popular, Inc. will post 8.86 earnings per share for the current fiscal year.

Popular Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.48 annualized dividend and a yield of 2.54%. Popular’s dividend payout ratio is 36.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BPOP shares. Piper Sandler assumed coverage on Popular in a research report on Monday, August 26th. They set an “overweight” rating and a $112.00 price target on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Popular in a report on Thursday, July 25th. Hovde Group raised their price target on Popular from $113.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of Popular from $103.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on shares of Popular from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Popular has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.