Credicorp (NYSE:BAP) Hits New 1-Year High - Time to Buy?

Key Points

• Credicorp Ltd. (NYSE:BAP) reached a new 52-week high at $250.42, closing at $248.86 with a trading volume of 17,781 shares.
• Wall Street analysts show mixed ratings for Credicorp, with one downgrade to "hold," while others reiterated "buy" ratings, leading to an average stock rating of "Hold" and a price target of $227.25.
• The company significantly increased its annual dividend to $10.9577, representing a yield of 450.0%, up from its previous dividend of $2.91.

Shares of Credicorp Ltd. (NYSE:BAP - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $250.42 and last traded at $248.86, with a volume of 17781 shares trading hands. The stock had previously closed at $249.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. UBS Group reiterated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $227.25.

Credicorp Stock Performance

The company has a 50-day moving average of $225.52 and a 200 day moving average of $202.50. The firm has a market capitalization of $19.79 billion, a PE ratio of 13.53, a PEG ratio of 0.88 and a beta of 1.09. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49.

Credicorp Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were paid a $10.9577 dividend. This represents a yield of 450.0%. This is a positive change from Credicorp's previous annual dividend of $2.91. The ex-dividend date of this dividend was Monday, May 19th. Credicorp's payout ratio is presently 59.87%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LPL Financial LLC raised its stake in Credicorp by 44.4% during the 4th quarter. LPL Financial LLC now owns 4,419 shares of the bank's stock worth $810,000 after acquiring an additional 1,358 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Credicorp by 40.3% in the 4th quarter. Alliancebernstein L.P. now owns 3,513 shares of the bank's stock worth $644,000 after buying an additional 1,009 shares during the last quarter. Wells Fargo & Company MN increased its stake in Credicorp by 45.7% during the 4th quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after buying an additional 217 shares during the period. Cerity Partners LLC boosted its holdings in shares of Credicorp by 31.8% in the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock worth $735,000 after buying an additional 977 shares during the period. Finally, LSV Asset Management raised its position in Credicorp by 11.7% during the fourth quarter. LSV Asset Management now owns 59,200 shares of the bank's stock valued at $10,853,000 after acquiring an additional 6,200 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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