BIT Capital GmbH Increases Stock Holdings in Credicorp Ltd. (NYSE:BAP)

Key Points

• BIT Capital GmbH has increased its holding in Credicorp Ltd. by 12.3%, acquiring an additional 1,071 shares, which now constitutes 0.2% of its portfolio.
• Institutional investors significantly boosted their stakes in Credicorp, with Itau Unibanco Holding S.A. leading with a 243.8% increase during the 4th quarter.
• Despite a recent downgrade from one analyst, Credicorp has a consensus rating of "Hold" with a target price of $227.25, showing mixed sentiments among analysts.

BIT Capital GmbH raised its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,776 shares of the bank's stock after buying an additional 1,071 shares during the period. Credicorp comprises 0.2% of BIT Capital GmbH's portfolio, making the stock its 28th largest holding. BIT Capital GmbH's holdings in Credicorp were worth $1,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAP. Fiduciary Trust Co boosted its position in shares of Credicorp by 4.3% during the fourth quarter. Fiduciary Trust Co now owns 1,939 shares of the bank's stock worth $356,000 after acquiring an additional 80 shares during the last quarter. Synovus Financial Corp lifted its position in Credicorp by 1.7% during the fourth quarter. Synovus Financial Corp now owns 4,940 shares of the bank's stock valued at $906,000 after purchasing an additional 81 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Credicorp by 3.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,748 shares of the bank's stock valued at $504,000 after acquiring an additional 90 shares during the period. Deltec Asset Management LLC raised its stake in shares of Credicorp by 4.3% in the first quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock valued at $447,000 after acquiring an additional 100 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Credicorp by 1.5% in the first quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock valued at $1,237,000 after acquiring an additional 101 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Trading Down 0.5%

NYSE BAP traded down $1.28 during trading hours on Tuesday, reaching $241.18. The company had a trading volume of 58,371 shares, compared to its average volume of 310,750. The stock has a 50-day moving average of $222.71 and a 200 day moving average of $200.76. Credicorp Ltd. has a 1-year low of $160.35 and a 1-year high of $249.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $19.18 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.84 and a beta of 1.09.

Credicorp Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were paid a dividend of $10.9577 per share. The ex-dividend date was Monday, May 19th. This is a positive change from Credicorp's previous annual dividend of $2.91. This represents a dividend yield of 450.0%. Credicorp's payout ratio is currently 59.87%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Credicorp presently has an average rating of "Hold" and an average price target of $227.25.

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.