Credicorp Ltd. (NYSE:BAP) Sees Significant Decrease in Short Interest

Credicorp Ltd. (NYSE:BAP) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 854,900 shares, a decline of 7.0% from the September 30th total of 919,400 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 210,600 shares, the short-interest ratio is currently 4.1 days.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lifted their target price on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Stock Down 1.8 %

Shares of NYSE:BAP traded down $3.31 during trading on Thursday, reaching $183.98. 254,260 shares of the company traded hands, compared to its average volume of 230,699. The firm has a fifty day simple moving average of $179.73 and a 200 day simple moving average of $170.58. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.54. Credicorp has a 1-year low of $116.42 and a 1-year high of $193.25. The firm has a market cap of $14.63 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Thursday, August 8th. The bank reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.32 billion. Analysts anticipate that Credicorp will post 18.86 earnings per share for the current fiscal year.

Credicorp Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were paid a $2.9084 dividend. The ex-dividend date was Monday, September 23rd. This represents a dividend yield of 3.8%. Credicorp’s payout ratio is 55.07%.

Hedge Funds Weigh In On Credicorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAP. Sei Investments Co. increased its stake in shares of Credicorp by 3.9% during the 1st quarter. Sei Investments Co. now owns 178,776 shares of the bank’s stock worth $30,291,000 after purchasing an additional 6,779 shares during the last quarter. M&G Plc raised its holdings in Credicorp by 39.2% during the second quarter. M&G Plc now owns 33,329 shares of the bank’s stock valued at $5,366,000 after buying an additional 9,383 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Credicorp by 95.4% in the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock worth $1,263,000 after buying an additional 3,406 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Credicorp by 81.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,357 shares of the bank’s stock worth $1,754,000 after acquiring an additional 4,662 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Credicorp during the 1st quarter valued at about $872,000. Institutional investors 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.