Credicorp (NYSE:BAP) Price Target Raised to $219.00

Credicorp (NYSE:BAP) had its price objective boosted by JPMorgan Chase & Co. from $200.00 to $219.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

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

Credicorp Trading Down 0.1 %

Shares of BAP stock traded down $0.15 during trading hours on Tuesday, hitting $188.41. 7,459 shares of the company were exchanged, compared to its average volume of 228,684. The company has a 50 day simple moving average of $182.12 and a two-hundred day simple moving average of $171.93. Credicorp has a fifty-two week low of $122.72 and a fifty-two week high of $193.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 23rd were paid a $2.9084 dividend. The ex-dividend date was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s payout ratio is 53.30%.

Hedge Funds Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Credicorp by 782.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,326,947 shares of the bank’s stock worth $240,138,000 after purchasing an additional 1,176,612 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of Credicorp in the second quarter worth approximately $50,235,000. Baillie Gifford & Co. boosted its stake in Credicorp by 22.0% during the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after buying an additional 294,596 shares during the last quarter. Fourth Sail Capital LP purchased a new stake in Credicorp in the second quarter valued at $44,156,000. Finally, FMR LLC raised its position in Credicorp by 6.1% in the third quarter. FMR LLC now owns 3,446,621 shares of the bank’s stock valued at $623,735,000 after purchasing an additional 199,137 shares during the period. 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.