Allspring Global Investments Holdings LLC Decreases Position in Credicorp Ltd. (NYSE:BAP)

Allspring Global Investments Holdings LLC lessened its stake in Credicorp Ltd. (NYSE:BAP) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,065 shares of the bank’s stock after selling 2,460 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Credicorp worth $9,241,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Credicorp by 40.3% in the third quarter. Blue Trust Inc. now owns 1,901 shares of the bank’s stock valued at $344,000 after buying an additional 546 shares during the period. Creative Planning raised its stake in Credicorp by 52.6% in the 3rd quarter. Creative Planning now owns 4,037 shares of the bank’s stock valued at $731,000 after acquiring an additional 1,391 shares during the period. Ritholtz Wealth Management lifted its holdings in Credicorp by 95.4% during the third quarter. Ritholtz Wealth Management now owns 6,977 shares of the bank’s stock valued at $1,263,000 after purchasing an additional 3,406 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Credicorp during the third quarter worth about $236,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Credicorp in the third quarter worth about $216,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of NYSE:BAP opened at $189.33 on Friday. The company has a 50 day moving average of $178.53 and a 200 day moving average of $170.15. 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 stock has a market cap of $15.06 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.62 and a beta of 1.14. Credicorp Ltd. has a 12 month low of $116.42 and a 12 month high of $191.58.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, August 8th. The bank reported $4.49 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 firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, sell-side analysts forecast that Credicorp Ltd. will post 18.86 EPS for the current fiscal year.

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 paid a $2.9084 dividend. The ex-dividend date was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s dividend payout ratio is currently 55.07%.

Wall Street Analyst Weigh In

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