Credicorp Ltd. (NYSE:BAP) Plans Annual Dividend of $9.41

Credicorp Ltd. (NYSE:BAP) announced an annual dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be given a dividend of 9.4084 per share by the bank on Friday, June 14th. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, May 17th. This is a positive change from Credicorp’s previous annual dividend of $6.74.

Credicorp has decreased its dividend payment by an average of 8.4% per year over the last three years and has increased its dividend every year for the last 2 years. Credicorp has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Credicorp to earn $20.55 per share next year, which means the company should continue to be able to cover its $6.77 annual dividend with an expected future payout ratio of 32.9%.

Credicorp Price Performance

Credicorp stock traded down $0.16 during mid-day trading on Thursday, hitting $176.00. 317,818 shares of the company traded hands, compared to its average volume of 236,101. Credicorp has a one year low of $116.42 and a one year high of $179.53. The stock has a fifty day moving average price of $169.64 and a 200-day moving average price of $151.69. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.01 and a current ratio of 1.01.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, February 8th. The bank reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.02). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.32 billion. Credicorp had a return on equity of 14.68% and a net margin of 20.17%. On average, equities analysts predict that Credicorp will post 18.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Credicorp from $190.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. UBS Group lowered their price objective on shares of Credicorp from $192.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, February 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.73.

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.