Credicorp Ltd. (NYSE:BAP) Short Interest Update

Credicorp Ltd. (NYSE:BAP) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 782,800 shares, a drop of 8.4% from the October 15th total of 854,900 shares. Based on an average daily trading volume, of 205,200 shares, the short-interest ratio is currently 3.8 days. Currently, 1.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Credicorp

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Credicorp by 782.7% in the 3rd 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 acquiring an additional 1,176,612 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Credicorp in the second quarter valued at $50,235,000. Baillie Gifford & Co. boosted its stake in Credicorp by 22.0% in the 2nd 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 2nd quarter valued at about $44,156,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Credicorp during the 3rd quarter valued at about $42,794,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAP has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. 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 Price Performance

Shares of BAP traded up $0.74 on Monday, reaching $193.08. The stock had a trading volume of 293,193 shares, compared to its average volume of 229,790. Credicorp has a twelve month low of $122.72 and a twelve month high of $196.00. The firm has a market capitalization of $15.36 billion, a PE ratio of 11.16, a PEG ratio of 0.66 and a beta of 1.14. The firm has a 50-day moving average of $182.87 and a 200 day moving average of $172.32. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Credicorp Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were given a $2.9084 dividend. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio is currently 53.24%.

About Credicorp

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.