Credicorp Ltd. (NYSE:BAP) Short Interest Update

Credicorp Ltd. (NYSE:BAP) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 854,900 shares, a drop of 7.0% from the September 30th total of 919,400 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 210,600 shares, the days-to-cover ratio is currently 4.1 days.

Credicorp Stock Performance

NYSE BAP traded down $0.83 on Friday, hitting $183.30. The stock had a trading volume of 89,158 shares, compared to its average volume of 230,031. Credicorp has a 52-week low of $116.42 and a 52-week high of $193.25. The business’s fifty day moving average price is $180.08 and its 200 day moving average price is $170.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($0.15). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.32 billion. Credicorp had a net margin of 19.31% and a return on equity of 14.86%. Sell-side analysts anticipate that Credicorp will post 18.81 EPS for the current fiscal year.

Credicorp Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were paid a $2.9084 dividend. This represents a yield of 3.8%. The ex-dividend date was Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is presently 56.03%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised 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.

Institutional Trading of Credicorp

Several large investors have recently bought and sold shares of BAP. Ninety One UK Ltd acquired a new stake in shares of Credicorp during the second quarter worth $50,235,000. Baillie Gifford & Co. lifted 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 worth $263,428,000 after acquiring an additional 294,596 shares during the period. Fourth Sail Capital LP purchased a new stake in Credicorp during the 2nd quarter valued at about $44,156,000. William Blair Investment Management LLC increased its holdings in shares of Credicorp by 203.9% in the first 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 raised its stake in shares of 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 during the last quarter. Hedge funds and other 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.