Credicorp (NYSE:BAP) Hits New 52-Week High – What’s Next?

Credicorp Ltd. (NYSE:BAP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $193.79 and last traded at $193.79, with a volume of 3244 shares trading hands. The stock had previously closed at $192.34.

Analyst Ratings Changes

BAP has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price 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. JPMorgan Chase & Co. boosted their price objective on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th.

Credicorp Price Performance

The stock’s 50-day moving average is $182.87 and its 200 day moving average is $172.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $15.37 billion, a PE ratio of 11.16, a P/E/G ratio of 0.66 and a beta of 1.14.

Credicorp Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were issued a $2.9084 dividend. The ex-dividend date was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s payout ratio is 53.24%.

Institutional Investors Weigh In On Credicorp

Several hedge funds have recently made changes to their positions in BAP. FMR LLC lifted its holdings in shares of Credicorp by 6.1% during the third quarter. FMR LLC now owns 3,446,621 shares of the bank’s stock worth $623,735,000 after purchasing an additional 199,137 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Credicorp by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,042,882 shares of the bank’s stock valued at $550,670,000 after acquiring an additional 13,868 shares during the period. Baillie Gifford & Co. boosted its position in Credicorp by 2.5% during the third quarter. Baillie Gifford & Co. now owns 1,674,261 shares of the bank’s stock worth $302,991,000 after purchasing an additional 41,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Credicorp by 782.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,326,947 shares of the bank’s stock valued at $240,138,000 after acquiring an additional 1,176,612 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Credicorp by 2.0% during the 3rd quarter. State Street Corp now owns 1,123,023 shares of the bank’s stock worth $207,235,000 after purchasing an additional 21,943 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.