Credicorp (NYSE:BAP) Reaches New 1-Year High - Here's What Happened

Credicorp Ltd. (NYSE:BAP - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $189.00 and last traded at $189.00, with a volume of 102 shares changing hands. The stock had previously closed at $186.73.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price target on Credicorp from $143.00 to $160.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th.

Credicorp Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $14.75 billion, a PE ratio of 11.08, a PEG ratio of 0.62 and a beta of 1.14. The company has a 50 day moving average price of $174.11 and a 200-day moving average price of $168.96.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, analysts forecast that Credicorp Ltd. will post 18.86 earnings per share for the current fiscal year.

Credicorp Cuts Dividend

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

Institutional Investors Weigh In On Credicorp

Several hedge funds have recently made changes to their positions in BAP. Headlands Technologies LLC bought a new stake in Credicorp in the second quarter worth $84,000. Atlas Capital Advisors LLC boosted its holdings in 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 acquiring an additional 89 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in Credicorp by 7.8% in the first quarter. Janiczek Wealth Management LLC now owns 1,050 shares of the bank's stock worth $178,000 after acquiring an additional 76 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Credicorp in the third quarter worth $216,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Credicorp during the second quarter valued at $210,000. 89.81% of the stock is currently owned by institutional investors.

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.