Deltec Asset Management LLC Sells 7,000 Shares of Credicorp Ltd. (NYSE:BAP)

Deltec Asset Management LLC cut its stake in Credicorp Ltd. (NYSE:BAP) by 83.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,400 shares of the bank’s stock after selling 7,000 shares during the period. Deltec Asset Management LLC’s holdings in Credicorp were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BAP. Headlands Technologies LLC bought a new position in Credicorp in the 2nd quarter valued at $84,000. Atlas Capital Advisors LLC increased its position in Credicorp by 14.9% in the second quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock worth $111,000 after purchasing an additional 89 shares during the period. Sanctuary Advisors LLC bought a new stake in Credicorp during the 2nd quarter worth about $210,000. Dynamic Advisor Solutions LLC acquired a new position in Credicorp during the 3rd quarter valued at about $216,000. Finally, Tidal Investments LLC bought a new position in shares of Credicorp in the 1st quarter valued at about $223,000. 89.81% of the stock is owned by institutional investors.

Credicorp Trading Down 2.2 %

NYSE BAP opened at $187.65 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. Credicorp Ltd. has a 12 month low of $116.42 and a 12 month high of $193.25. The company has a market capitalization of $14.92 billion, a PE ratio of 11.14, a P/E/G ratio of 0.62 and a beta of 1.14. The stock has a 50-day simple moving average of $179.34 and a 200 day simple moving average of $170.47.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.32 billion. Research analysts forecast that Credicorp Ltd. will post 18.86 EPS for the current year.

Credicorp Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were given a dividend of $2.9084 per share. The ex-dividend date was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio is 55.07%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

About Credicorp

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.