Zurcher Kantonalbank Zurich Cantonalbank Has $29.36 Million Stock Position in Credicorp Ltd. (NYSE:BAP)

Key Points

• Zurcher Kantonalbank decreased its stake in Credicorp Ltd. by 1%, now owning 157,686 shares valued at approximately $29.36 million.
• Credicorp raised its annual dividend significantly, from $2.91 to $10.9577 per share, resulting in a yield of 4.5%.
• Analysts have mixed ratings for Credicorp, with an average target price of $227.25 and a "Hold" rating prevailing among several equities research reports.

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,686 shares of the bank's stock after selling 1,655 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.20% of Credicorp worth $29,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAP. Itau Unibanco Holding S.A. lifted its stake in Credicorp by 243.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock valued at $290,920,000 after purchasing an additional 1,217,368 shares during the last quarter. Norges Bank purchased a new stake in shares of Credicorp in the 4th quarter valued at approximately $84,213,000. Price T Rowe Associates Inc. MD lifted its position in shares of Credicorp by 59.6% in 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. Canada Pension Plan Investment Board lifted its position in shares of Credicorp by 130.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 494,526 shares of the bank's stock valued at $90,657,000 after acquiring an additional 280,361 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Credicorp by 811.5% in the 1st quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock valued at $42,655,000 after acquiring an additional 203,992 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on BAP. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price target for the company from $174.00 to $225.00 in a research report on Thursday, July 24th. UBS Group restated a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Credicorp from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $227.25.

Credicorp Stock Up 0.3%

BAP stock traded up $0.61 during midday trading on Thursday, reaching $235.69. The company had a trading volume of 131,065 shares, compared to its average volume of 309,679. Credicorp Ltd. has a 1 year low of $153.27 and a 1 year high of $240.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $18.75 billion, a P/E ratio of 12.82, a PEG ratio of 0.84 and a beta of 1.05. The company has a 50 day moving average of $220.69 and a two-hundred day moving average of $199.46.

Credicorp Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were given 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 yield of 4.5%. Credicorp's dividend payout ratio is presently 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.