Credicorp (NYSE:BAP) Hits New 52-Week High – Here’s What Happened

Credicorp Ltd. (NYSE:BAP) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $193.79 and last traded at $193.79, with a volume of 3244 shares changing hands. The stock had previously closed at $192.34.

Analysts Set New Price Targets

A number of analysts have weighed in on BAP shares. JPMorgan Chase & Co. increased their target price on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group raised their price target on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Trading Up 0.1 %

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $183.68 and a 200 day simple moving average of $172.69.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were issued a $2.9084 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s payout ratio is currently 53.30%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G Plc lifted its position in shares of Credicorp by 39.2% in the 2nd quarter. M&G Plc now owns 33,329 shares of the bank’s stock worth $5,366,000 after purchasing an additional 9,383 shares during the period. Ritholtz Wealth Management boosted its position in Credicorp by 95.4% during the 3rd quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock valued at $1,263,000 after acquiring an additional 3,406 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Credicorp by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock valued at $127,616,000 after acquiring an additional 10,527 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Credicorp in the 3rd quarter worth $1,737,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Credicorp by 16.4% during the 1st quarter. Lazard Asset Management LLC now owns 121,292 shares of the bank’s stock worth $20,550,000 after purchasing an additional 17,103 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.