Letko Brosseau & Associates Inc. Has $17.95 Million Stock Position in Credicorp Ltd. (NYSE:BAP)

Key Points

• Letko Brosseau & Associates Inc. sold 3.2% of its holdings in Credicorp Ltd. during the first quarter, now owning approximately 96,446 shares valued at $17.95 million.
• Multiple institutional investors increased their positions in Credicorp, with Itau Unibanco raising its stake by 243.8% in the fourth quarter.
• Credicorp declared a significant annual dividend of $10.9577 per share, up from its previous annual dividend of $2.91, reflecting a yield of 4.5%.

Letko Brosseau & Associates Inc. decreased its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 96,446 shares of the bank's stock after selling 3,204 shares during the period. Letko Brosseau & Associates Inc. owned about 0.12% of Credicorp worth $17,954,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAP. Headlands Technologies LLC purchased a new position in shares of Credicorp in the 4th quarter worth about $38,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Credicorp during the 4th quarter valued at about $40,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Credicorp during the 1st quarter valued at about $40,000. Farther Finance Advisors LLC raised its holdings in shares of Credicorp by 2,170.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after buying an additional 217 shares during the period. Finally, Quarry LP purchased a new stake in shares of Credicorp during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analyst Weigh In

BAP has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. 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 currently has an average rating of "Hold" and an average target price of $227.25.

Credicorp Price Performance

Shares of BAP stock traded down $1.06 during trading hours on Friday, hitting $235.94. The company had a trading volume of 388,315 shares, compared to its average volume of 296,126. Credicorp Ltd. has a 12 month low of $153.27 and a 12 month high of $240.00. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.84 and a beta of 1.09. The firm's fifty day moving average is $221.97 and its 200 day moving average is $200.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03.

Credicorp Increases Dividend

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