Allspring Global Investments Holdings LLC Cuts Stake in Credicorp Ltd. (NYSE:BAP)

Allspring Global Investments Holdings LLC cut its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,005 shares of the bank's stock after selling 6,241 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Credicorp worth $8,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAP. Assetmark Inc. increased its position in shares of Credicorp by 173.1% during the fourth quarter. Assetmark Inc. now owns 17,701 shares of the bank's stock valued at $3,245,000 after buying an additional 11,220 shares during the period. Candriam S.C.A. bought a new stake in shares of Credicorp during the fourth quarter valued at about $11,348,000. Callan Family Office LLC bought a new stake in shares of Credicorp during the fourth quarter valued at about $204,000. PNC Financial Services Group Inc. increased its position in shares of Credicorp by 5.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,591 shares of the bank's stock valued at $292,000 after buying an additional 76 shares during the period. Finally, NS Partners Ltd grew its holdings in shares of Credicorp by 33.2% during the fourth quarter. NS Partners Ltd now owns 80,200 shares of the bank's stock worth $14,702,000 after purchasing an additional 20,000 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BAP. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Wall Street Zen lowered Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Credicorp presently has a consensus rating of "Hold" and an average price target of $211.00.

Credicorp Price Performance

Shares of NYSE BAP traded up $1.12 during midday trading on Friday, hitting $227.25. 228,600 shares of the company's stock were exchanged, compared to its average volume of 269,748. Credicorp Ltd. has a 12-month low of $153.27 and a 12-month high of $228.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 0.83 and a beta of 1.05. The business's fifty day moving average price is $211.24 and its two-hundred day moving average price is $193.82.

Credicorp Increases Dividend

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

About Credicorp

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.