Capital Fund Management S.A. Purchases New Position in Credicorp Ltd. $BAP

Key Points

• Capital Fund Management S.A. has acquired a stake worth approximately $2.48 million in Credicorp Ltd., purchasing 13,331 shares during the first quarter.
• Other institutional investors, including Itau Unibanco and Price T Rowe Associates, have significantly increased their holdings in Credicorp, indicating strong institutional interest.
• Credicorp's stock has received multiple upgrades from analysts, including a boost from Citigroup raising its target price from $255 to $275, reflecting positive growth forecasts.

Capital Fund Management S.A. acquired a new stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,331 shares of the bank's stock, valued at approximately $2,482,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAP. Cullen Frost Bankers Inc. bought a new stake in Credicorp in the 1st quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Credicorp during the fourth quarter valued at about $40,000. Farther Finance Advisors LLC grew its position in shares of Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after purchasing an additional 217 shares in the last quarter. Quarry LP bought a new stake in shares of Credicorp in the fourth quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Credicorp in the first quarter worth about $108,000. Institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 0.2%

Shares of NYSE:BAP traded up $0.56 during trading hours on Friday, hitting $256.65. 442,590 shares of the company's stock traded hands, compared to its average volume of 368,794. The firm has a market capitalization of $20.41 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The business has a fifty day moving average price of $236.15 and a 200-day moving average price of $209.31. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $258.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. Equities analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BAP shares. Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Citigroup boosted their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and increased their price objective for the company from $174.00 to $225.00 in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.80.

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.