Credicorp Ltd. (NYSE:BAP) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Credicorp Ltd. by 17.3% during the 1st quarter, owning 159,460 shares valued at approximately $29.7 million.
• Credicorp declared an annual dividend of $10.9577 per share, significantly increased from its previous dividend of $2.91, reflecting a yield of 4.5%.
• Wall Street analysts have mixed ratings on Credicorp, with Goldman Sachs upgrading it to "neutral" and the average target price set at $227.25.

Federated Hermes Inc. reduced its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,460 shares of the bank's stock after selling 33,361 shares during the period. Federated Hermes Inc. owned approximately 0.20% of Credicorp worth $29,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BAP. FMR LLC raised its position 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 acquiring an additional 196,197 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Credicorp by 0.3% during 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. increased its stake in shares of Credicorp by 243.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after purchasing an additional 1,217,368 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 282,869 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Credicorp by 2.9% during the 4th quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock valued at $137,070,000 after acquiring an additional 20,785 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Stock Down 0.4%

Credicorp stock traded down $1.06 during mid-day trading on Friday, reaching $235.94. 388,315 shares of the company's stock were exchanged, compared to its average volume of 296,126. The company has a market cap of $18.77 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.84 and a beta of 1.09. Credicorp Ltd. has a twelve month low of $153.27 and a twelve month high of $240.00. 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 fifty day moving average of $221.97 and a 200-day moving average of $200.25.

Credicorp Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BAP shares. UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Wall Street Zen cut shares of Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and increased their price target for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus 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.