Short Interest in Credicorp Ltd. (NYSE:BAP) Drops By 8.4%

Credicorp Ltd. (NYSE:BAP) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 782,800 shares, a drop of 8.4% from the October 15th total of 854,900 shares. Based on an average trading volume of 205,200 shares, the short-interest ratio is presently 3.8 days. Currently, 1.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group raised their price objective on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On Credicorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. M&G Plc raised its position in shares of Credicorp by 39.2% in the 2nd quarter. M&G Plc now owns 33,329 shares of the bank’s stock worth $5,366,000 after buying an additional 9,383 shares during the period. Ritholtz Wealth Management grew its stake in Credicorp by 95.4% in the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock worth $1,263,000 after purchasing an additional 3,406 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Credicorp by 81.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,357 shares of the bank’s stock valued at $1,754,000 after acquiring an additional 4,662 shares during the period. Vanguard Group Inc. raised its holdings in shares of Credicorp by 1.4% during the first quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock valued at $127,616,000 after buying an additional 10,527 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Credicorp during the third quarter valued at approximately $1,737,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Up 0.4 %

BAP traded up $0.74 on Monday, hitting $193.08. 293,193 shares of the company were exchanged, compared to its average volume of 229,790. Credicorp has a twelve month low of $122.72 and a twelve month high of $196.00. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.66 and a beta of 1.14. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $182.87 and a two-hundred day moving average price of $172.32.

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 paid a dividend of $2.9084 per share. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is 53.24%.

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.