Swiss National Bank Purchases 3,000 Shares of Credicorp Ltd. (NYSE:BAP)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank boosted its position in shares of Credicorp Ltd. (NYSE:BAP – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,552 shares of the bank’s stock after purchasing an additional 3,000 shares during the period. Swiss National Bank owned about 0.25% of Credicorp worth $27,071,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BAP. PenderFund Capital Management Ltd. grew its holdings in shares of Credicorp by 107.1% in the 3rd quarter. PenderFund Capital Management Ltd. now owns 290 shares of the bank’s stock valued at $49,000 after acquiring an additional 150 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Credicorp by 191.9% during the third quarter. Quadrant Capital Group LLC now owns 724 shares of the bank’s stock worth $89,000 after purchasing an additional 476 shares during the period. US Bancorp DE grew its holdings in Credicorp by 47.3% during the third quarter. US Bancorp DE now owns 853 shares of the bank’s stock worth $105,000 after purchasing an additional 274 shares during the period. PNC Financial Services Group Inc. grew its holdings in Credicorp by 20.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,040 shares of the bank’s stock worth $179,000 after purchasing an additional 173 shares during the period. Finally, Alterna Wealth Management Inc. bought a new position in Credicorp during the third quarter worth about $207,000. Institutional investors own 69.13% of the company’s stock.

Credicorp Trading Down 0.7 %

Shares of BAP stock opened at $141.00 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Credicorp Ltd. has a 12-month low of $113.21 and a 12-month high of $158.95. The firm has a 50 day moving average price of $132.00 and a two-hundred day moving average price of $138.10. The company has a market capitalization of $11.21 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.48 and a beta of 0.93.

Credicorp (NYSE:BAP – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The bank reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.31). Credicorp had a net margin of 23.05% and a return on equity of 16.79%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, analysts predict that Credicorp Ltd. will post 17.01 earnings per share for the current year.

Credicorp Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be given a $6.7385 dividend. This represents a dividend yield of 2.7%. This is an increase from Credicorp’s previous annual dividend of $3.94. The ex-dividend date is Thursday, May 18th. Credicorp’s payout ratio is presently 44.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAP. TheStreet upgraded Credicorp from a “c+” rating to a “b-” rating in a report on Wednesday. StockNews.com started coverage on shares of Credicorp in a research report on Thursday, March 16th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Credicorp Company Profile

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Credicorp Ltd. operates as a holding company, which engages in the provision of financial services. It operates through the following segments: Universal Banking; Microfinance; Insurance and Pensions; and Investment Banking and Wealth Management. The Universal Banking segment focuses on lending and investment services.