Skandinaviska Enskilda Banken AB publ Decreases Position in Credicorp Ltd. (NYSE:BAP)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in Credicorp Ltd. by 25.9%, bringing its total to 19,200 shares valued at approximately $3.57 million.
• Institutional investors have shown mixed movements, with Cape Ann Asset Management Ltd increasing its shares by 34.6% and Carrhae Capital LLP increasing theirs by a staggering 389.0% during the same period.
• Credicorp has announced an increase in its annual dividend to $10.96 per share, representing a yield of 4.5%, significantly up from the previous dividend of $2.91.

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,200 shares of the bank's stock after selling 6,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Credicorp were worth $3,574,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Credicorp in the fourth quarter valued at $38,000. Cullen Frost Bankers Inc. purchased a new stake in Credicorp in the first quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Credicorp in the fourth quarter valued at $40,000. Farther Finance Advisors LLC boosted its holdings in Credicorp by 2,170.0% in the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after purchasing an additional 217 shares during the last quarter. Finally, Quarry LP purchased a new stake in Credicorp in the fourth quarter valued at $47,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. 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 a consensus rating of "Hold" and a consensus target price of $227.25.

Credicorp Price Performance

Shares of BAP stock traded down $1.83 during mid-day trading on Friday, hitting $235.17. 169,241 shares of the stock were exchanged, compared to its average volume of 310,338. The firm has a fifty day moving average of $221.34 and a 200 day moving average of $199.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49. Credicorp Ltd. has a 52-week low of $153.27 and a 52-week high of $240.00. The company has a market cap of $18.70 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.83 and a beta of 1.05.

Credicorp Increases Dividend

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

Credicorp Company 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.