Huntington National Bank Sells 63 Shares of Credicorp Ltd. (BAP)
Huntington National Bank lessened its stake in Credicorp Ltd. (NYSE:BAP) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 408 shares of the bank’s stock after selling 63 shares during the quarter. Huntington National Bank’s holdings in Credicorp were worth $98,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BAP. Bank of New York Mellon Corp lifted its holdings in shares of Credicorp by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 83,431 shares of the bank’s stock valued at $18,612,000 after purchasing an additional 1,453 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Credicorp in the third quarter valued at approximately $241,000. LPL Financial LLC lifted its holdings in shares of Credicorp by 19.5% in the third quarter. LPL Financial LLC now owns 6,535 shares of the bank’s stock valued at $1,458,000 after purchasing an additional 1,067 shares in the last quarter. Putnam Investments LLC bought a new position in shares of Credicorp in the third quarter valued at approximately $6,452,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Credicorp by 20.9% in the third quarter. Advisors Asset Management Inc. now owns 9,658 shares of the bank’s stock valued at $2,155,000 after purchasing an additional 1,667 shares in the last quarter. Institutional investors own 67.20% of the company’s stock.
A number of analysts recently commented on the company. Zacks Investment Research lowered Credicorp from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Citigroup lowered Credicorp from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Bank of America lowered Credicorp from a “neutral” rating to an “underperform” rating in a report on Monday, February 11th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $232.00 to $240.00 in a report on Monday, February 11th. Finally, ValuEngine lowered Credicorp from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $254.50.
Credicorp (NYSE:BAP) last issued its quarterly earnings results on Wednesday, February 6th. The bank reported $3.58 EPS for the quarter, missing the Zacks’ consensus estimate of $3.95 by ($0.37). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.07 billion. Credicorp had a return on equity of 17.24% and a net margin of 25.05%. Research analysts anticipate that Credicorp Ltd. will post 16.92 EPS for the current year.
The company also recently announced a dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 16th will be paid a $20.00 dividend. The ex-dividend date of this dividend is Monday, April 15th. This is a positive change from Credicorp’s previous dividend of $14.17. Credicorp’s payout ratio is presently 40.73%.
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Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.
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