Wasatch Advisors Inc. increased its stake in Credicorp Ltd. (NYSE:BAP) by 79.4% in the first quarter, Holdings Channel reports. The institutional investor owned 13,353 shares of the bank’s stock after acquiring an additional 5,911 shares during the period. Wasatch Advisors Inc.’s holdings in Credicorp were worth $3,204,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Credicorp by 24.2% in the first quarter. Parallel Advisors LLC now owns 328 shares of the bank’s stock worth $79,000 after buying an additional 64 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Credicorp by 31.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 358 shares of the bank’s stock worth $80,000 after purchasing an additional 85 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of Credicorp during the fourth quarter worth $116,000. We Are One Seven LLC bought a new stake in shares of Credicorp during the fourth quarter worth $142,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Credicorp by 44.9% during the first quarter. Quadrant Capital Group LLC now owns 1,219 shares of the bank’s stock worth $290,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 66.91% of the company’s stock.
Several analysts have recently weighed in on BAP shares. Citigroup downgraded Credicorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Bank of America downgraded Credicorp from a “neutral” rating to an “underperform” rating in a research report on Monday, February 11th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $232.00 to $240.00 in a research report on Monday, February 11th. ValuEngine downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research upgraded Credicorp from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Credicorp currently has a consensus rating of “Hold” and an average price target of $254.50.
The company also recently declared a dividend, which was paid on Friday, May 10th. Stockholders of record on Tuesday, April 16th were paid a dividend of $20.00 per share. The ex-dividend date of this dividend was Monday, April 15th. This is a positive change from Credicorp’s previous dividend of $14.17. Credicorp’s dividend payout ratio (DPR) is currently 40.73%.
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Credicorp Company Profile
Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.
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