Credicorp (NYSE:BAP) Reaches New 12-Month High - What's Next?

Credicorp Ltd. (NYSE:BAP - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $191.58 and last traded at $188.56, with a volume of 25137 shares. The stock had previously closed at $188.23.

Analysts Set New Price Targets

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

Credicorp Stock Up 0.2 %

The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. The stock has a 50-day moving average of $177.66 and a 200-day moving average of $169.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing the consensus estimate of $4.64 by ($0.15). The firm had revenue of $1.37 billion during 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, sell-side analysts forecast that Credicorp Ltd. will post 18.86 EPS for the current fiscal year.

Credicorp Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors 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 of this dividend was Monday, September 23rd. Credicorp's dividend payout ratio is currently 55.07%.

Hedge Funds Weigh In On Credicorp

A number of institutional investors and hedge funds have recently bought and sold shares of BAP. Ninety One UK Ltd acquired a new stake in shares of Credicorp in the 2nd quarter worth approximately $50,235,000. Baillie Gifford & Co. lifted its position in Credicorp by 22.0% in the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank's stock worth $263,428,000 after purchasing an additional 294,596 shares during the period. Fourth Sail Capital LP bought a new position in Credicorp during the 2nd quarter valued at $44,156,000. William Blair Investment Management LLC increased its position in shares of Credicorp by 203.9% during the 1st quarter. William Blair Investment Management LLC now owns 279,665 shares of the bank's stock valued at $47,384,000 after purchasing an additional 187,640 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in shares of Credicorp by 78.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank's stock worth $57,883,000 after buying an additional 158,175 shares in the last quarter. 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.