Credicorp Ltd. (NYSE:BAP) Short Interest Update

Credicorp Ltd. (NYSE:BAP) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 919,400 shares, a growth of 10.6% from the September 15th total of 831,000 shares. Based on an average daily volume of 214,500 shares, the days-to-cover ratio is currently 4.3 days. Currently, 1.7% of the shares of the company are sold short.

Credicorp Price Performance

Credicorp stock traded up $2.70 during trading hours on Thursday, hitting $188.32. 82,043 shares of the stock were exchanged, compared to its average volume of 232,816. Credicorp has a 12 month low of $116.42 and a 12 month high of $189.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day moving average is $175.45 and its two-hundred day moving average is $169.28. The stock has a market capitalization of $14.98 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.62 and a beta of 1.14.

Credicorp (NYSE:BAP) last posted its earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($0.15). Credicorp had a return on equity of 14.86% and a net margin of 19.31%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts expect that Credicorp will post 18.86 EPS for the current fiscal year.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 23rd will be given a $2.9084 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is presently 55.07%.

Institutional Investors Weigh In On Credicorp

Several hedge funds have recently added to or reduced their stakes in BAP. Ninety One UK Ltd bought a new position in Credicorp during the second quarter worth about $50,235,000. Baillie Gifford & Co. increased its position in Credicorp by 22.0% during the 2nd quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock valued at $263,428,000 after purchasing an additional 294,596 shares during the period. Fourth Sail Capital LP acquired a new position in Credicorp in the second quarter valued at approximately $44,156,000. William Blair Investment Management LLC grew its position in Credicorp by 203.9% in the 1st quarter. William Blair Investment Management LLC now owns 279,665 shares of the bank’s stock valued at $47,384,000 after purchasing an additional 187,640 shares during the period. Finally, Driehaus Capital Management LLC boosted its holdings in Credicorp by 78.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank’s stock worth $57,883,000 after acquiring an additional 158,175 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

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

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.