Credicorp Ltd. (NYSE:BAP) Sees Large Decline in Short Interest

31 Oct 2024, 20:33 by Renee Jackson · The Cerbat Gem

Credicorp Ltd. (NYSE:BAP – Get Free Report) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 854,900 shares, a drop of 7.0% from the September 30th total of 919,400 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 210,600 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their target price on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th.

Check Out Our Latest Stock Report on BAP

Credicorp Trading Down 1.8 %

Shares of Credicorp stock traded down $3.31 during trading on Thursday, hitting $183.98. 254,260 shares of the company were exchanged, compared to its average volume of 230,699. Credicorp has a 1-year low of $116.42 and a 1-year high of $193.25. 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 firm has a market capitalization of $14.63 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. The firm’s fifty day moving average price is $179.73 and its 200 day moving average price is $170.58.

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

Credicorp Cuts Dividend

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

Institutional Trading of Credicorp

Large investors have recently bought and sold shares of the business. Ninety One UK Ltd bought a new position in Credicorp during the 2nd quarter worth about $50,235,000. Baillie Gifford & Co. boosted its position in shares of 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 during the period. Fourth Sail Capital LP bought a new position in shares of Credicorp during the second quarter worth about $44,156,000. William Blair Investment Management LLC raised its position in Credicorp by 203.9% in the 1st quarter. William Blair Investment Management LLC now owns 279,665 shares of the bank’s stock valued at $47,384,000 after buying an additional 187,640 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in Credicorp by 78.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 358,784 shares of the bank’s stock valued at $57,883,000 after acquiring an additional 158,175 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Credicorp Company Profile

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