Oppenheimer Asset Management Inc. Lowers Stock Position in Credicorp Ltd. (NYSE:BAP)

Oppenheimer Asset Management Inc. reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,015 shares of the bank’s stock after selling 143 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Credicorp were worth $1,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC lifted its position in shares of Credicorp by 2.5% during the 2nd quarter. Simplicity Wealth LLC now owns 2,842 shares of the bank’s stock worth $458,000 after buying an additional 70 shares in the last quarter. Atlas Capital Advisors LLC boosted 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 purchasing an additional 89 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Credicorp by 4.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 3,049 shares of the bank’s stock valued at $492,000 after purchasing an additional 126 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Credicorp by 0.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,871 shares of the bank’s stock valued at $3,446,000 after purchasing an additional 179 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Credicorp by 10.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,023 shares of the bank’s stock worth $343,000 after purchasing an additional 186 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

BAP stock opened at $192.34 on Friday. The stock has a fifty day moving average of $182.87 and a 200-day moving average of $172.22. Credicorp Ltd. has a fifty-two week low of $122.72 and a fifty-two week high of $193.25. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54.

Credicorp Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 23rd were given a dividend of $2.9084 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s dividend payout ratio is presently 53.30%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th.

Credicorp 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.