Ritholtz Wealth Management Increases Stake in Credicorp Ltd. (NYSE:BAP)

Ritholtz Wealth Management increased its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 95.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,977 shares of the bank's stock after purchasing an additional 3,406 shares during the period. Ritholtz Wealth Management's holdings in Credicorp were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BAP. Goldman Sachs Group Inc. grew its holdings in Credicorp by 139.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 741,399 shares of the bank's stock worth $111,158,000 after acquiring an additional 432,301 shares during the last quarter. Ninety One UK Ltd purchased a new position in Credicorp during the 2nd quarter valued at about $50,235,000. Baillie Gifford & Co. increased its holdings in Credicorp by 22.0% during the 2nd quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank's stock valued at $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 approximately $44,156,000. Finally, William Blair Investment Management LLC lifted its holdings in Credicorp by 203.9% in the 1st quarter. William Blair Investment Management LLC now owns 279,665 shares of the bank's stock worth $47,384,000 after buying an additional 187,640 shares during the period. Institutional investors own 89.81% of the company's stock.

Credicorp Trading Down 0.7 %

Shares of NYSE BAP traded down $1.24 during midday trading on Monday, hitting $185.49. 123,318 shares of the company traded hands, compared to its average volume of 233,124. Credicorp Ltd. has a 12-month low of $116.42 and a 12-month high of $187.70. The firm has a market cap of $14.75 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.62 and a beta of 1.14. The stock has a 50-day moving average price of $174.11 and a 200 day moving average price of $168.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.02.

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

Credicorp Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.