Short Interest in Credicorp Ltd. (NYSE:BAP) Decreases By 8.2%

Credicorp Ltd. (NYSE:BAP) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 875,600 shares, a drop of 8.2% from the August 15th total of 953,600 shares. Based on an average daily volume of 227,600 shares, the short-interest ratio is presently 3.8 days. Currently, 1.6% of the shares of the company are short sold.

Credicorp Stock Performance

BAP opened at $180.42 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $14.35 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.59 and a beta of 1.14. The business has a fifty day simple moving average of $170.35 and a 200 day simple moving average of $167.99. Credicorp has a 1 year low of $116.42 and a 1 year high of $181.45.

Credicorp (NYSE:BAP) last announced its 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 business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.32 billion. Research analysts expect that Credicorp will post 18.81 EPS for the current year.

Credicorp Cuts Dividend

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

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Credicorp in the 4th quarter valued at $109,709,000. Goldman Sachs Group Inc. raised its stake in Credicorp by 139.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 741,399 shares of the bank’s stock valued at $111,158,000 after purchasing an additional 432,301 shares in the last quarter. Ninety One UK Ltd bought a new stake in Credicorp during the second quarter worth about $50,235,000. Baillie Gifford & Co. grew its stake in Credicorp by 22.0% during the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after buying an additional 294,596 shares in the last quarter. Finally, Fourth Sail Capital LP acquired a new stake in Credicorp during the second quarter worth about $44,156,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Credicorp

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.