Credicorp (NYSE:BAP) Hits New 1-Year High - Here's Why

Credicorp Ltd. (NYSE:BAP - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $223.39 and last traded at $223.20, with a volume of 317131 shares changing hands. The stock had previously closed at $217.43.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BAP shares. UBS Group restated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $211.00.

Credicorp Trading Up 2.7%

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.03 and a quick ratio of 1.03. The business's 50-day moving average is $206.42 and its 200 day moving average is $192.13. The firm has a market capitalization of $17.75 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04.

Credicorp Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were given a dividend of $10.9577 per share. This represents a dividend yield of 4.5%. The ex-dividend date was Monday, May 19th. This is a positive change from Credicorp's previous annual dividend of $2.91. Credicorp's dividend payout ratio is presently 59.87%.

Institutional Investors Weigh In On Credicorp

Large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new stake in shares of Credicorp during the 1st quarter valued at $35,000. Headlands Technologies LLC bought a new position in Credicorp in the 4th quarter valued at about $38,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Credicorp during the 4th quarter worth approximately $40,000. Cullen Frost Bankers Inc. bought a new stake in shares of Credicorp during the 1st quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Credicorp by 2,170.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

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.

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