Nordea Investment Management AB grew its stake in Credicorp Ltd. (NYSE:BAP – Get Rating) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,797 shares of the bank’s stock after purchasing an additional 826 shares during the quarter. Nordea Investment Management AB’s holdings in Credicorp were worth $2,404,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of BAP. Pzena Investment Management LLC acquired a new stake in Credicorp in the 3rd quarter worth about $44,663,000. Invesco Ltd. increased its position in shares of Credicorp by 354.1% during the first quarter. Invesco Ltd. now owns 320,381 shares of the bank’s stock worth $55,064,000 after purchasing an additional 249,824 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Credicorp in the 3rd quarter valued at $25,657,000. Pelham Capital Ltd. purchased a new position in Credicorp in the 1st quarter valued at $19,669,000. Finally, Millennium Management LLC boosted its stake in Credicorp by 688.3% during the 2nd quarter. Millennium Management LLC now owns 127,695 shares of the bank’s stock worth $15,312,000 after purchasing an additional 111,496 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Credicorp in a research report on Thursday, March 16th. They issued a “hold” rating for the company. TheStreet raised shares of Credicorp from a “c+” rating to a “b-” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $153.00.
Credicorp Trading Down 2.9 %
Credicorp (NYSE:BAP – Get Rating) last posted its earnings results on Thursday, February 9th. The bank reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.31). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. Credicorp had a net margin of 23.05% and a return on equity of 16.79%. As a group, equities analysts predict that Credicorp Ltd. will post 17.01 earnings per share for the current year.
Credicorp Increases Dividend
The firm also recently disclosed an annual dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 19th will be given a $6.7385 dividend. This represents a yield of 2.7%. This is a positive change from Credicorp’s previous annual dividend of $3.94. The ex-dividend date is Thursday, May 18th. Credicorp’s dividend payout ratio is presently 44.00%.
Credicorp Profile
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.
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