Credicorp (NYSE:BAP) Sets New 12-Month High After Dividend Announcement

Credicorp Ltd. (NYSE:BAP)’s stock price reached a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as $180.21 and last traded at $177.39, with a volume of 201884 shares changing hands. The stock had previously closed at $176.00.

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Monday, May 20th will be issued a $9.4084 dividend. This represents a yield of 3.8%. This is a boost from Credicorp’s previous annual dividend of $6.74. The ex-dividend date is Friday, May 17th. Credicorp’s dividend payout ratio (DPR) is presently 223.79%.

Wall Street Analysts Forecast Growth

BAP has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of 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. lifted their price objective on shares of Credicorp from $190.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.73.

Credicorp Trading Up 0.1 %

The firm has a market capitalization of $14.02 billion, a PE ratio of 11.26, a PEG ratio of 0.57 and a beta of 1.12. The firm’s fifty day moving average is $169.90 and its two-hundred day moving average is $152.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 1.01.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, February 8th. The bank reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.02). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations 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 Ltd. will post 18.4 EPS for the current fiscal year.

Institutional Trading of Credicorp

Several hedge funds have recently added to or reduced their stakes in BAP. Janiczek Wealth Management LLC raised its position in shares of Credicorp by 7.8% in the first quarter. Janiczek Wealth Management LLC now owns 1,050 shares of the bank’s stock valued at $178,000 after purchasing an additional 76 shares during the period. CWM LLC raised its position in shares of Credicorp by 69.2% in the fourth quarter. CWM LLC now owns 225 shares of the bank’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Blue Trust Inc. raised its position in shares of Credicorp by 7.7% in the fourth quarter. Blue Trust Inc. now owns 1,396 shares of the bank’s stock valued at $209,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Credicorp by 7.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,837 shares of the bank’s stock valued at $275,000 after purchasing an additional 134 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Credicorp by 25.2% during the 4th quarter. Parallel Advisors LLC now owns 671 shares of the bank’s stock worth $101,000 after acquiring an additional 135 shares during the period. Institutional investors 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.