Credicorp (NYSE:BAP) Reaches New 1-Year High – Time to Buy?

Shares of Credicorp Ltd. (NYSE:BAP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $191.58 and last traded at $188.56, with a volume of 25137 shares trading hands. The stock had previously closed at $188.23.

Analysts Set New Price Targets

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

Credicorp Stock Performance

The stock has a market cap of $15.01 billion, a P/E ratio of 11.20, a PEG ratio of 0.62 and a beta of 1.14. The business has a 50 day moving average price of $177.66 and a 200 day moving average price of $169.91. 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 (NYSE:BAP) last released its earnings results on Thursday, August 8th. The bank reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.32 billion. Credicorp had a net margin of 19.31% and a return on equity of 14.86%. As a group, sell-side analysts expect that Credicorp Ltd. will post 18.86 EPS for the current year.

Credicorp Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BAP. Ninety One UK Ltd bought a new position in Credicorp in the second quarter worth approximately $50,235,000. Baillie Gifford & Co. grew its stake in Credicorp by 22.0% in the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after purchasing an additional 294,596 shares in the last quarter. Fourth Sail Capital LP bought a new position in Credicorp in the second quarter worth approximately $44,156,000. William Blair Investment Management LLC grew its stake in Credicorp by 203.9% in the first quarter. William Blair Investment Management LLC now owns 279,665 shares of the bank’s stock worth $47,384,000 after purchasing an additional 187,640 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Credicorp by 78.8% in the second quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank’s stock worth $57,883,000 after purchasing an additional 158,175 shares in the last quarter. 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.