American Century Companies Inc. cut its holdings in Popular Inc (NASDAQ:BPOP) by 59.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,836 shares of the bank’s stock after selling 127,356 shares during the quarter. American Century Companies Inc. owned about 0.08% of Popular worth $4,399,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BPOP. EJF Capital LLC bought a new position in shares of Popular during the second quarter worth $18,527,000. Martingale Asset Management L P boosted its position in shares of Popular by 74.8% during the second quarter. Martingale Asset Management L P now owns 785,567 shares of the bank’s stock worth $35,516,000 after purchasing an additional 336,219 shares in the last quarter. Monarch Partners Asset Management LLC boosted its position in shares of Popular by 78.2% during the second quarter. Monarch Partners Asset Management LLC now owns 330,130 shares of the bank’s stock worth $14,925,000 after purchasing an additional 144,890 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of Popular by 5.8% during the second quarter. Investec Asset Management LTD now owns 2,598,427 shares of the bank’s stock worth $117,475,000 after purchasing an additional 143,167 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Popular by 1,666.9% during the second quarter. Marshall Wace LLP now owns 126,209 shares of the bank’s stock worth $5,706,000 after purchasing an additional 119,066 shares in the last quarter. 84.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Juan Guerrero sold 6,000 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $53.31, for a total transaction of $319,860.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.27% of the company’s stock.
Popular (NASDAQ:BPOP) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. Popular had a net margin of 16.32% and a return on equity of 8.13%. The business had revenue of $602.49 million for the quarter, compared to analyst estimates of $586.10 million. During the same period last year, the business posted $0.19 earnings per share. Analysts predict that Popular Inc will post 4.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Popular’s payout ratio is 37.31%.
A number of equities analysts have recently weighed in on BPOP shares. BidaskClub raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Citigroup lifted their price target on shares of Popular from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Morgan Stanley lifted their price target on shares of Popular from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. ValuEngine raised shares of Popular from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research raised shares of Popular from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Friday, October 26th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Popular presently has a consensus rating of “Buy” and an average target price of $54.88.
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Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services primarily to institutional and retail customers. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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