Credicorp Ltd. (NYSE:BAP) Short Interest Up 6.3% in May

Credicorp Ltd. (NYSE:BAP) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 479,100 shares, an increase of 6.3% from the May 15th total of 450,800 shares. Based on an average daily trading volume, of 250,100 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

Credicorp Price Performance

BAP opened at $156.92 on Wednesday. The stock has a 50-day moving average price of $165.33 and a 200-day moving average price of $160.09. Credicorp has a 12-month low of $116.42 and a 12-month high of $180.21. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $12.48 billion, a P/E ratio of 9.31, a PEG ratio of 0.50 and a beta of 1.17.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Thursday, May 9th. The bank reported $5.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.25 by $0.81. Credicorp had a return on equity of 15.33% and a net margin of 19.95%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Equities analysts predict that Credicorp will post 18.64 earnings per share for the current fiscal year.

Credicorp Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 20th were paid a $9.4084 dividend. This represents a dividend yield of 3.8%. The ex-dividend date was Friday, May 17th. This is a positive change from Credicorp’s previous annual dividend of $6.74. Credicorp’s payout ratio is 207.72%.

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in Credicorp by 69.2% during the 4th quarter. CWM LLC now owns 225 shares of the bank’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Credicorp by 25.2% in the 4th quarter. Parallel Advisors LLC now owns 671 shares of the bank’s stock worth $101,000 after acquiring an additional 135 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Credicorp by 147.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 741 shares of the bank’s stock worth $111,000 after acquiring an additional 442 shares in the last quarter. Signaturefd LLC raised its position in shares of Credicorp by 24.3% in the 4th quarter. Signaturefd LLC now owns 746 shares of the bank’s stock worth $112,000 after acquiring an additional 146 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in shares of Credicorp by 25.2% in the 4th quarter. Janiczek Wealth Management LLC now owns 974 shares of the bank’s stock worth $146,000 after buying an additional 196 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their target price on Credicorp from $190.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.73.

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.