11,894 Shares in Credicorp Ltd. (NYSE:BAP) Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP acquired 11,894 shares of Credicorp Ltd. (NYSE:BAP) in Q1, valued at approximately $2.2 million, reflecting growing institutional interest in the bank's stock.
• Credicorp recently raised its annual dividend to $10.96, significantly up from the previous $2.91, yielding 450.0% and highlighting its strong financial performance.
• Research firms are split on Credicorp; while Goldman Sachs upgraded the stock to a neutral rating with a price target increase, Wall Street Zen downgraded it to a hold rating, resulting in a consensus rating of "Hold."

Entropy Technologies LP purchased a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,894 shares of the bank's stock, valued at approximately $2,214,000.

Other hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in Credicorp during the first quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Credicorp during the fourth quarter worth about $40,000. Farther Finance Advisors LLC boosted its position in Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after acquiring an additional 217 shares during the last quarter. Quarry LP acquired a new position in Credicorp during the fourth quarter worth about $47,000. Finally, Headlands Technologies LLC boosted its position in Credicorp by 189.5% during the first quarter. Headlands Technologies LLC now owns 605 shares of the bank's stock worth $113,000 after acquiring an additional 396 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Price Performance

Credicorp stock opened at $248.97 on Monday. Credicorp Ltd. has a 12-month low of $160.35 and a 12-month high of $249.63. The stock has a market cap of $19.80 billion, a P/E ratio of 13.54, a PEG ratio of 0.88 and a beta of 1.09. The company has a 50-day moving average price of $225.52 and a 200 day moving average price of $202.50. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Credicorp Increases Dividend

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

Wall Street Analyst Weigh In

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

Credicorp 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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