Credicorp (NYSE:BAP) Hits New 1-Year High After Dividend Announcement

Credicorp Ltd. (NYSE:BAP) shares hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $181.00 and last traded at $180.98, with a volume of 132536 shares changing hands. The stock had previously closed at $175.23.

The newly announced dividend which will be paid on Friday, October 18th. Investors of record on Monday, September 23rd will be issued a dividend of $2.9084 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Monday, September 23rd. Credicorp’s payout ratio is 55.07%.

Credicorp Stock Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average price is $170.58 and its 200-day moving average price is $168.07. The company has a market cap of $14.33 billion, a P/E ratio of 10.69, a PEG ratio of 0.59 and a beta of 1.14.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Thursday, August 8th. The bank reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities analysts anticipate that Credicorp Ltd. will post 18.81 EPS for the current year.

Institutional Trading of Credicorp

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Credicorp during the fourth quarter worth about $109,709,000. Goldman Sachs Group Inc. lifted its holdings in shares of Credicorp by 139.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 741,399 shares of the bank’s stock worth $111,158,000 after acquiring an additional 432,301 shares during the period. Ninety One UK Ltd acquired a new stake in shares of Credicorp during the 2nd quarter worth approximately $50,235,000. Baillie Gifford & Co. boosted its position in shares of Credicorp by 22.0% during the 2nd quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after acquiring an additional 294,596 shares in the last quarter. Finally, Fourth Sail Capital LP bought a new position in Credicorp in the second quarter valued at approximately $44,156,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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.