Short Interest in Credicorp Ltd. (NYSE:BAP) Decreases By 13.0%

Credicorp Ltd. (NYSE:BAP) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 672,700 shares, a drop of 13.0% from the November 15th total of 773,500 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 233,600 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Investors Weigh In On Credicorp

A number of hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in Credicorp in the third quarter worth $58,000. Headlands Technologies LLC bought a new stake in shares of Credicorp in the 2nd quarter worth about $84,000. Atlas Capital Advisors LLC raised its position in shares of Credicorp by 14.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock valued at $111,000 after buying an additional 89 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Credicorp during the 2nd quarter valued at about $210,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Credicorp in the 3rd quarter valued at about $216,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAP has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. 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 report on Tuesday, October 8th.

Credicorp Trading Down 1.6 %

Shares of Credicorp stock opened at $189.64 on Friday. Credicorp has a fifty-two week low of $132.19 and a fifty-two week high of $200.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $188.50 and a 200 day moving average of $175.59.

Credicorp Cuts Dividend

The business also recently declared an annual dividend, which was paid on Friday, October 18th. Shareholders 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 yield of 3.8%. Credicorp’s dividend payout ratio is currently 53.30%.

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.