Ballentine Partners LLC Buys New Position in Credicorp Ltd. (NYSE:BAP)

Ballentine Partners LLC bought a new stake in shares of Credicorp Ltd. (NYSE:BAP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,668 shares of the bank’s stock, valued at approximately $302,000.

Several other large investors also recently added to or reduced their stakes in the business. Carrhae Capital LLP bought a new stake in Credicorp during the third quarter valued at approximately $27,974,000. Blue Trust Inc. grew its position in Credicorp by 40.3% during the third quarter. Blue Trust Inc. now owns 1,901 shares of the bank’s stock valued at $344,000 after buying an additional 546 shares during the period. Creative Planning grew its position in Credicorp by 52.6% during the third quarter. Creative Planning now owns 4,037 shares of the bank’s stock valued at $731,000 after buying an additional 1,391 shares during the period. Ritholtz Wealth Management boosted its position in shares of Credicorp by 95.4% in the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock worth $1,263,000 after purchasing an additional 3,406 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in shares of Credicorp in the third quarter worth approximately $236,000. 89.81% of the stock is currently owned by institutional investors.

Credicorp Stock Performance

BAP opened at $192.10 on Tuesday. The firm has a market cap of $15.28 billion, a P/E ratio of 11.40, a PEG ratio of 0.62 and a beta of 1.14. Credicorp Ltd. has a 1-year low of $116.42 and a 1-year high of $193.25. The company has a 50 day simple moving average of $178.99 and a two-hundred day simple moving average of $170.31. 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 posted its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.32 billion. Equities analysts forecast that Credicorp Ltd. will post 18.86 earnings per share for the current fiscal year.

Credicorp Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 23rd were issued 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 (DPR) is presently 55.07%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research report 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.