Credicorp Ltd. (NYSE:BAP) Declares 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 paid a dividend of 9.4084 per share by the bank on Friday, June 14th. This represents a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Credicorp’s previous annual dividend of $6.74.

Credicorp has decreased its dividend payment by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 2 years. Credicorp has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.1 %

Shares of BAP traded down $0.16 during trading hours on Thursday, reaching $176.00. The stock had a trading volume of 317,818 shares, compared to its average volume of 236,101. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 0.57 and a beta of 1.12. The firm has a 50-day simple moving average of $169.64 and a 200 day simple moving average of $151.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.44. Credicorp has a 12 month low of $116.42 and a 12 month high of $179.53.

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

Analyst Ratings Changes

Several brokerages recently commented on BAP. UBS Group reduced 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. JPMorgan Chase & Co. lifted their target price on shares of Credicorp from $190.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.73.

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.