Credicorp (NYSE:BAP) Hits New 52-Week High Following Dividend Announcement

Credicorp Ltd. (NYSE:BAP - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $180.21 and last traded at $177.39, with a volume of 201884 shares changing hands. The stock had previously closed at $176.00.

The newly announced dividend which will be paid on Friday, June 14th. Investors of record on Monday, May 20th will be paid a $9.4084 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Credicorp's previous annual dividend of $6.74. This represents a yield of 3.8%. Credicorp's dividend payout ratio (DPR) is currently 223.79%.

Analyst Ratings Changes

Several research analysts recently commented on BAP shares. JPMorgan Chase & Co. increased their price objective on Credicorp from $190.00 to $194.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. UBS Group decreased their price target on shares of Credicorp from $192.00 to $190.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.73.

Credicorp Price Performance

The stock has a 50 day simple moving average of $169.90 and a two-hundred day simple moving average of $152.02. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.01 and a quick ratio of 1.01.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The bank reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.82 by ($0.02). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. Credicorp had a return on equity of 14.68% and a net margin of 20.17%. On average, equities research analysts predict that Credicorp Ltd. will post 18.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credicorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in Credicorp by 1,997.8% during the first quarter. Acadian Asset Management LLC now owns 134,867 shares of the bank's stock worth $22,838,000 after buying an additional 128,438 shares during the last quarter. Vanguard Group Inc. raised its position in Credicorp by 1.4% in the first quarter. Vanguard Group Inc. now owns 753,205 shares of the bank's stock valued at $127,616,000 after purchasing an additional 10,527 shares during the period. M&G Plc purchased a new stake in Credicorp in the first quarter valued at $4,047,000. Banco BTG Pactual S.A. purchased a new stake in Credicorp in the first quarter valued at $508,000. Finally, Trillium Asset Management LLC raised its position in Credicorp by 0.5% in the first quarter. Trillium Asset Management LLC now owns 35,315 shares of the bank's stock valued at $5,983,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

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.