Credicorp (NYSE:BAP) Hits New 52-Week High - Here's Why

Key Points

• Credicorp Ltd. reached a new 52-week high in stock price, trading at $241.10 during mid-day, with the last recorded price at $240.58.
• The company announced an increase in its annual dividend to $10.9577, marking a significant increase from the previous $2.91 dividend.
• Analyst ratings show mixed opinions with Wall Street Zen downgrading the stock to a "hold," while UBS reaffirmed a "buy," bringing the average target price to $227.25.

Credicorp Ltd. (NYSE:BAP - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $241.10 and last traded at $240.58, with a volume of 25459 shares. The stock had previously closed at $236.50.

Analyst Ratings Changes

A number of research firms have weighed in on BAP. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $227.25.

Credicorp Price Performance

The business's 50-day moving average is $221.97 and its two-hundred day moving average is $200.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $19.19 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.84 and a beta of 1.09.

Credicorp Increases Dividend

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

Hedge Funds Weigh In On Credicorp

Several large investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of Credicorp by 5.7% in the fourth quarter. FMR LLC now owns 3,642,818 shares of the bank's stock worth $667,801,000 after purchasing an additional 196,197 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Credicorp by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock worth $564,559,000 after purchasing an additional 7,692 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in Credicorp by 243.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock valued at $290,920,000 after acquiring an additional 1,217,368 shares in the last quarter. Royal Bank of Canada grew its stake in Credicorp by 0.9% during the first quarter. Royal Bank of Canada now owns 1,695,980 shares of the bank's stock valued at $315,724,000 after acquiring an additional 14,852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Credicorp by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,343,531 shares of the bank's stock valued at $250,112,000 after acquiring an additional 13,592 shares in the last quarter. Hedge funds and other institutional investors 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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