Credicorp Ltd. (NYSE:BAP) Shares Acquired by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP increased its stake in Credicorp Ltd. by 103.0% in Q1, acquiring an additional 77,817 shares, now holding approximately $28.55 million worth of the stock.
• Credicorp recently declared an annual dividend of $10.9577 per share, significantly higher than the previous annual dividend of $2.91, resulting in a dividend yield of 450.0%.
• The company's stock rating has varied, with Wall Street analysts issuing both a hold rating and a buy rating, reflecting mixed sentiment on its performance; the consensus target price is $227.25.

Fourth Sail Capital LP lifted its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 103.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,365 shares of the bank's stock after purchasing an additional 77,817 shares during the period. Credicorp makes up about 6.7% of Fourth Sail Capital LP's holdings, making the stock its 3rd biggest position. Fourth Sail Capital LP owned 0.19% of Credicorp worth $28,550,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC grew its stake in Credicorp by 5.7% in the fourth quarter. FMR LLC now owns 3,642,818 shares of the bank's stock valued at $667,801,000 after purchasing an additional 196,197 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Credicorp by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock valued at $564,559,000 after acquiring an additional 7,692 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in Credicorp by 243.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after acquiring an additional 1,217,368 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Credicorp by 21.8% during the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock worth $161,465,000 after purchasing an additional 155,162 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Credicorp by 59.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock valued at $138,824,000 after purchasing an additional 282,869 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of BAP stock traded up $2.64 during mid-day trading on Thursday, reaching $245.63. The stock had a trading volume of 318,662 shares, compared to its average volume of 331,412. The firm's 50 day simple moving average is $224.07 and its 200 day simple moving average is $201.33. 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 firm has a market cap of $19.54 billion, a PE ratio of 13.36, a P/E/G ratio of 0.86 and a beta of 1.09. Credicorp Ltd. has a one year low of $160.35 and a one year high of $249.63.

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. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from Credicorp's previous annual dividend of $2.91. This represents a dividend yield of 450.0%. Credicorp's dividend payout ratio (DPR) is 59.87%.

Analyst Ratings Changes

BAP has been the topic of several analyst reports. Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and upped their target price for the stock from $174.00 to $225.00 in a research report 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's stock. According to data from MarketBeat, Credicorp has an average rating of "Hold" and a consensus price target 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.