Short Interest in Credicorp Ltd. (NYSE:BAP) Expands By 10.6%

Credicorp Ltd. (NYSE:BAP) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 919,400 shares, an increase of 10.6% from the September 15th total of 831,000 shares. Based on an average daily trading volume, of 214,500 shares, the short-interest ratio is currently 4.3 days. Currently, 1.7% of the shares of the stock are sold short.

Credicorp Stock Performance

BAP opened at $185.49 on Tuesday. Credicorp has a twelve month low of $116.42 and a twelve month high of $187.70. The firm has a market capitalization of $14.75 billion, a PE ratio of 11.01, a PEG ratio of 0.62 and a beta of 1.14. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $174.62 and its 200 day moving average price is $169.07.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). Credicorp had a net margin of 19.31% and a return on equity of 14.86%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.32 billion. As a group, sell-side analysts expect that Credicorp will post 18.86 EPS for the current fiscal year.

Credicorp Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 23rd will be paid a $2.9084 dividend. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is presently 55.07%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in Credicorp in the 2nd quarter valued at about $84,000. Atlas Capital Advisors LLC grew its position in Credicorp by 14.9% in the second quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock worth $111,000 after acquiring an additional 89 shares during the period. Janiczek Wealth Management LLC increased its stake in Credicorp by 7.8% during the first quarter. Janiczek Wealth Management LLC now owns 1,050 shares of the bank’s stock worth $178,000 after acquiring an additional 76 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Credicorp in the third quarter valued at $216,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Credicorp during the 2nd quarter worth $210,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their target price on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a 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.