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

Credicorp Ltd. (NYSE:BAP)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $189.00 and last traded at $189.00, with a volume of 102 shares trading hands. The stock had previously closed at $186.73.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price target on shares of Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th.

Credicorp Stock Performance

The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. The company has a 50 day simple moving average of $174.99 and a 200-day simple moving average of $169.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.54.

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

Credicorp Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 23rd will be paid a $2.9084 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s dividend payout ratio is presently 55.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Credicorp by 52.6% during the third quarter. Creative Planning now owns 4,037 shares of the bank’s stock valued at $731,000 after acquiring an additional 1,391 shares in the last quarter. Ritholtz Wealth Management grew its position in Credicorp by 95.4% in the 3rd quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock valued at $1,263,000 after purchasing an additional 3,406 shares during the period. Atomi Financial Group Inc. bought a new stake in Credicorp during the 3rd quarter valued at $236,000. Dynamic Advisor Solutions LLC acquired a new position in Credicorp during the third quarter worth $216,000. Finally, Diversified Trust Co bought a new position in shares of Credicorp in the third quarter valued at $428,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.