M&T Bank Corp Lowers Stock Holdings in Credicorp Ltd. (NYSE:BAP)

M&T Bank Corp lowered its stake in shares of 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 Securities & Exchange Commission. The institutional investor owned 4,363 shares of the bank's stock after selling 1,528 shares during the quarter. M&T Bank Corp's holdings in Credicorp were worth $812,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in Credicorp by 5.0% in 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 last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Credicorp by 4.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,555 shares of the bank's stock valued at $285,000 after buying an additional 63 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Credicorp by 0.7% during the 4th quarter. Natixis Advisors LLC now owns 14,149 shares of the bank's stock valued at $2,594,000 after buying an additional 97 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Credicorp by 4.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,628 shares of the bank's stock valued at $298,000 after purchasing an additional 67 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Credicorp by 16.4% in the 4th quarter. William Blair Investment Management LLC now owns 478,867 shares of the bank's stock valued at $87,786,000 after purchasing an additional 67,602 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BAP shares. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Credicorp has a consensus rating of "Hold" and an average target price of $211.00.

Credicorp Trading Up 0.5%

Shares of BAP traded up $1.14 during midday trading on Friday, reaching $226.71. The company had a trading volume of 150,822 shares, compared to its average volume of 271,750. Credicorp Ltd. has a 1-year low of $153.27 and a 1-year high of $228.69. The stock has a market cap of $18.03 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. The firm has a 50 day simple moving average of $215.36 and a 200-day simple moving average of $196.42. 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 Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a dividend of $10.9577 per share. This represents a yield of 4.5%. This is a boost from Credicorp's previous annual dividend of $2.91. The ex-dividend date of this dividend was Monday, May 19th. Credicorp's dividend payout ratio (DPR) 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.