M&T Bank Corp Cuts Position in Credicorp Ltd. (NYSE:BAP)

M&T Bank Corp decreased its position in shares of Credicorp Ltd. (NYSE:BAP) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,961 shares of the bank’s stock after selling 115 shares during the period. M&T Bank Corp’s holdings in Credicorp were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BAP. Barclays PLC raised its holdings in shares of Credicorp by 3.3% during the 3rd quarter. Barclays PLC now owns 218,733 shares of the bank’s stock valued at $39,584,000 after buying an additional 6,988 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Credicorp in the third quarter worth approximately $42,794,000. Orion Portfolio Solutions LLC grew its position in Credicorp by 23.5% during the third quarter. Orion Portfolio Solutions LLC now owns 8,106 shares of the bank’s stock valued at $1,467,000 after acquiring an additional 1,542 shares during the last quarter. State Street Corp raised its stake in shares of Credicorp by 2.0% during the third quarter. State Street Corp now owns 1,123,023 shares of the bank’s stock worth $207,235,000 after acquiring an additional 21,943 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Credicorp by 7.0% in the 3rd quarter. Quantinno Capital Management LP now owns 2,314 shares of the bank’s stock worth $419,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

Credicorp Stock Performance

NYSE:BAP opened at $189.64 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. Credicorp Ltd. has a fifty-two week low of $132.19 and a fifty-two week high of $200.00. The business has a 50 day moving average price of $188.50 and a 200-day moving average price of $175.67.

Credicorp Cuts Dividend

The company also recently declared 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 was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s payout ratio is currently 53.30%.

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.