Credicorp Ltd. (NYSE:BAP) Announces Dividend Increase – $9.41 Per Share

Credicorp Ltd. (NYSE:BAP) declared an annual dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Monday, May 20th will be paid a dividend of 9.4084 per share by the bank on Friday, June 14th. This represents a yield of 3.8%. The ex-dividend date is Friday, May 17th. This is a positive change from Credicorp’s previous annual dividend of $6.74.

Credicorp has decreased its dividend by an average of 8.4% per year over the last three years and has raised its dividend every year for the last 2 years. Credicorp has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Credicorp to earn $20.55 per share next year, which means the company should continue to be able to cover its $6.77 annual dividend with an expected future payout ratio of 32.9%.

Credicorp Stock Down 0.1 %

Shares of BAP stock opened at $176.04 on Friday. The firm’s fifty day moving average price is $169.90 and its two-hundred day moving average price is $152.02. Credicorp has a 1 year low of $116.42 and a 1 year high of $179.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $14.00 billion, a P/E ratio of 11.26, a PEG ratio of 0.57 and a beta of 1.12.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, February 8th. The bank reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.02). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. Credicorp had a return on equity of 14.68% and a net margin of 20.17%. On average, equities analysts predict that Credicorp will post 18.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BAP has been the subject of several recent analyst reports. UBS Group cut their price objective on Credicorp from $192.00 to $190.00 and set a “buy” rating for the company in a report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on shares of Credicorp from $190.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.73.

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.