Massachusetts Financial Services Co. MA Increases Holdings in Credicorp Ltd. (NYSE:BAP)

Massachusetts Financial Services Co. MA boosted its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,152,938 shares of the bank's stock after purchasing an additional 99,691 shares during the period. Massachusetts Financial Services Co. MA owned about 3.96% of Credicorp worth $472,720,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BAP. IFM Investors Pty Ltd raised its stake in shares of Credicorp by 41.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 4,373 shares of the bank's stock worth $560,000 after buying an additional 1,278 shares during the last quarter. Assetmark Inc. raised its position in shares of Credicorp by 2,860.8% during the 3rd quarter. Assetmark Inc. now owns 5,359 shares of the bank's stock worth $686,000 after purchasing an additional 5,178 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Credicorp by 1.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 63,716 shares of the bank's stock valued at $8,154,000 after buying an additional 962 shares during the last quarter. Fifth Third Bancorp increased its position in Credicorp by 2.1% during the third quarter. Fifth Third Bancorp now owns 8,964 shares of the bank's stock worth $1,147,000 after buying an additional 185 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Credicorp by 42.3% during the third quarter. Teacher Retirement System of Texas now owns 35,356 shares of the bank's stock worth $4,525,000 after buying an additional 10,508 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of 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 lowered their price target on shares of Credicorp from $192.00 to $190.00 and set a "buy" rating for the company in a report on Monday, February 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.73.

Credicorp Trading Down 2.6 %

Credicorp stock traded down $4.55 during trading on Monday, hitting $170.37. The company's stock had a trading volume of 335,800 shares, compared to its average volume of 242,707. The stock's fifty day moving average is $169.96 and its 200 day moving average is $152.75. Credicorp Ltd. has a 1-year low of $116.42 and a 1-year high of $180.21. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.01 and a current ratio of 1.01.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The bank reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.82 by ($0.02). Credicorp had a net margin of 19.95% and a return on equity of 15.57%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, equities research analysts predict that Credicorp Ltd. will post 18.67 EPS for the current year.

Credicorp Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, June 14th. Investors of record on Monday, May 20th will be given a dividend of $9.4084 per share. This is a positive change from Credicorp's previous annual dividend of $6.74. The ex-dividend date of this dividend is Friday, May 17th. This represents a yield of 3.8%. Credicorp's dividend payout ratio is 40.18%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.