Credicorp Ltd. (NYSE:BAP) Sees Significant Decrease in Short Interest

Credicorp Ltd. (NYSE:BAP) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 854,900 shares, a drop of 7.0% from the September 30th total of 919,400 shares. Based on an average trading volume of 210,600 shares, the short-interest ratio is currently 4.1 days. Approximately 1.6% of the shares of the stock are sold short.

Credicorp Price Performance

Credicorp stock traded down $3.31 during midday trading on Thursday, hitting $183.98. The company’s stock had a trading volume of 254,260 shares, compared to its average volume of 230,699. Credicorp has a 12 month low of $116.42 and a 12 month high of $193.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $14.63 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. The stock’s 50-day moving average price is $179.73 and its 200-day moving average price is $170.58.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). Credicorp had a return on equity of 14.86% and a net margin of 19.31%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. Analysts anticipate that Credicorp will post 18.86 earnings per share for the current fiscal year.

Credicorp Cuts Dividend

The business also recently disclosed 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 of this dividend was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio (DPR) is presently 55.07%.

Hedge Funds Weigh In On Credicorp

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in shares of Credicorp during the second quarter valued at $84,000. Atlas Capital Advisors LLC boosted its holdings in shares of 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 buying an additional 89 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Credicorp in the second quarter worth approximately $210,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Credicorp during the third quarter valued at approximately $216,000. Finally, Tidal Investments LLC purchased a new stake in shares of Credicorp in the 1st quarter valued at approximately $223,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their target price on Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a report 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.