Credicorp (NYSE:BAP) Sets New 1-Year High Following Dividend Announcement

Credicorp Ltd. (NYSE:BAPGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $180.21 and last traded at $177.39, with a volume of 201884 shares. The stock had previously closed at $176.00.

The newly announced dividend which will be paid on Friday, June 14th. Stockholders of record on Monday, May 20th will be given a dividend of $9.4084 per share. This is a boost from Credicorp’s previous annual dividend of $6.74. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, May 17th. Credicorp’s payout ratio is presently 43.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $190.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. UBS Group decreased their price objective on shares of Credicorp from $192.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.73.

Read Our Latest Stock Report on BAP

Credicorp Price Performance

The firm has a 50-day moving average of $169.90 and a 200-day moving average of $152.02. The stock has a market cap of $13.92 billion, a PE ratio of 11.19, a PEG ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 1.01.

Credicorp (NYSE:BAPGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The bank reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.02). Credicorp had a net margin of 20.17% and a return on equity of 14.68%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Research analysts predict that Credicorp Ltd. will post 18.4 EPS for the current year.

Hedge Funds Weigh In On Credicorp

Several institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP bought a new position in shares of Credicorp during the 4th quarter valued at about $109,741,000. Norges Bank bought a new position in Credicorp during the fourth quarter valued at approximately $109,709,000. Goldman Sachs Group Inc. boosted its stake in Credicorp by 139.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 741,399 shares of the bank’s stock valued at $111,158,000 after buying an additional 432,301 shares during the last quarter. WCM Investment Management LLC boosted its stake in Credicorp by 1,723.7% during the fourth quarter. WCM Investment Management LLC now owns 303,705 shares of the bank’s stock valued at $45,832,000 after buying an additional 287,052 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Credicorp by 784.5% during the third quarter. Hsbc Holdings PLC now owns 285,863 shares of the bank’s stock valued at $36,618,000 after buying an additional 253,544 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Credicorp

(Get Free Report)

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.

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