Credicorp Ltd. (NYSE:BAP) Shares Bought by State Street Corp

State Street Corp increased its stake in Credicorp Ltd. (NYSE:BAP) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,123,023 shares of the bank’s stock after buying an additional 21,943 shares during the quarter. State Street Corp’s holdings in Credicorp were worth $207,235,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in Credicorp in the 3rd quarter worth approximately $58,000. Headlands Technologies LLC acquired a new stake in Credicorp during the 2nd quarter valued at $84,000. Atlas Capital Advisors LLC increased its stake in Credicorp by 14.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock worth $111,000 after buying an additional 89 shares during the period. Sanctuary Advisors LLC acquired a new position in Credicorp in the 2nd quarter worth $210,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in Credicorp in the 3rd quarter valued at about $216,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Price Performance

BAP opened at $192.80 on Friday. The company has a market capitalization of $15.33 billion, a P/E ratio of 11.13, a PEG ratio of 0.65 and a beta of 1.13. The company has a 50-day moving average of $188.16 and a 200-day moving average of $175.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.07. Credicorp Ltd. has a 1-year low of $124.51 and a 1-year high of $200.00.

Credicorp Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BAP shares. 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 report on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th.

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.