Credicorp (NYSE:BAP) Sets New 52-Week High - Time to Buy?

Credicorp Ltd. (NYSE:BAP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $220.46 and last traded at $219.11, with a volume of 149601 shares. The stock had previously closed at $216.90.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BAP shares. Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $211.00.

Credicorp Trading Down 0.7%

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 1.07. The firm has a market capitalization of $17.25 billion, a PE ratio of 11.79, a P/E/G ratio of 0.56 and a beta of 1.04. The company's fifty day simple moving average is $200.19 and its 200-day simple moving average is $190.63.

Credicorp Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were issued a dividend of $10.9577 per share. This represents a yield of 4.5%. This is an increase from Credicorp's previous annual dividend of $2.91. The ex-dividend date was Monday, May 19th. Credicorp's dividend payout ratio (DPR) is presently 58.95%.

Institutional Investors Weigh In On Credicorp

A number of hedge funds have recently modified their holdings of BAP. Cerity Partners LLC increased its position in Credicorp by 31.8% during the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock worth $735,000 after purchasing an additional 977 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Credicorp by 4.2% in the fourth quarter. Sanctuary Advisors LLC now owns 1,529 shares of the bank's stock valued at $283,000 after purchasing an additional 62 shares during the period. Quantinno Capital Management LP lifted its stake in Credicorp by 29.5% in the fourth quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock worth $549,000 after acquiring an additional 682 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Credicorp by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,489 shares of the bank's stock worth $640,000 after acquiring an additional 135 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Credicorp by 19.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 10,039 shares of the bank's stock worth $1,818,000 after acquiring an additional 1,658 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.