Itau Unibanco Holding S.A. Sells 1,116,236 Shares of Credicorp Ltd. $BAP

Key Points

• Itau Unibanco Holding S.A. reduced its position in Credicorp Ltd. by 65.0% in Q1, now owning approximately 4.0% of the company, making it their 6th largest holding.
• Several hedge funds increased their holdings in Credicorp, with notable increases including Wells Fargo & Company MN by 45.7% and First Trust Advisors LP by 42.0%.
• Credicorp reported earnings of $6.24 EPS for its most recent quarter, surpassing expectations and showing strong revenue of $1.58 billion.

Itau Unibanco Holding S.A. lessened its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 65.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,541 shares of the bank's stock after selling 1,116,236 shares during the quarter. Credicorp accounts for about 4.0% of Itau Unibanco Holding S.A.'s investment portfolio, making the stock its 6th largest position. Itau Unibanco Holding S.A. owned 0.76% of Credicorp worth $107,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp raised its position in Credicorp by 84.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 9,200 shares of the bank's stock valued at $1,713,000 after purchasing an additional 4,200 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Credicorp by 276.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 133,823 shares of the bank's stock worth $24,912,000 after purchasing an additional 98,300 shares during the period. Synovus Financial Corp grew its stake in Credicorp by 163.6% in the first quarter. Synovus Financial Corp now owns 13,020 shares of the bank's stock valued at $2,424,000 after acquiring an additional 8,080 shares during the period. Jump Financial LLC acquired a new position in Credicorp in the first quarter valued at about $8,638,000. Finally, SVB Wealth LLC acquired a new position in Credicorp in the first quarter valued at about $35,000. Institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

Shares of Credicorp stock traded up $0.90 on Tuesday, hitting $258.10. The stock had a trading volume of 163,779 shares, compared to its average volume of 318,083. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $259.82. The business's 50 day moving average is $236.97 and its two-hundred day moving average is $209.98. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.12.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, beating the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. Analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analyst Weigh In

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

Credicorp 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.