Credicorp (NYSE:BAP) Reaches New 1-Year High – Should You Buy?

Credicorp Ltd. (NYSE:BAP) reached a new 52-week high during trading on Monday . The stock traded as high as $193.79 and last traded at $193.79, with a volume of 3244 shares traded. The stock had previously closed at $192.34.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th.

Credicorp Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average is $183.68 and its 200 day moving average is $172.69.

Credicorp Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were issued a dividend of $2.9084 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is presently 53.30%.

Hedge Funds Weigh In On Credicorp

Several hedge funds have recently made changes to their positions in the company. M&G Plc increased its holdings in shares of Credicorp by 39.2% in the second quarter. M&G Plc now owns 33,329 shares of the bank’s stock valued at $5,366,000 after purchasing an additional 9,383 shares during the period. Ritholtz Wealth Management boosted its position in Credicorp by 95.4% in the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock valued at $1,263,000 after buying an additional 3,406 shares during the last quarter. Vanguard Group Inc. raised its position in Credicorp by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 753,205 shares of the bank’s stock worth $127,616,000 after buying an additional 10,527 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Credicorp during the 3rd quarter worth approximately $1,737,000. Finally, Lazard Asset Management LLC lifted its stake in Credicorp by 16.4% during the 1st quarter. Lazard Asset Management LLC now owns 121,292 shares of the bank’s stock valued at $20,550,000 after acquiring an additional 17,103 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

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.