Credicorp Ltd. $BAP Stock Bought by North of South Capital LLP

Key Points

• North of South Capital LLP increased its Credicorp stake by 4,610.4% in the third quarter, adding 205,299 shares to reach 209,752 shares valued at about $79.7 million.
• Credicorp reported quarterly earnings of $7.06 per share, below the $7.20 analyst consensus, while revenue of $2 billion topped estimates of $1.92 billion.
• Analysts give Credicorp a consensus “Moderate Buy” rating, with an average price target of $431.80; shares were trading at $369.66 in the report.

North of South Capital LLP raised its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 4,610.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,752 shares of the bank's stock after acquiring an additional 205,299 shares during the period. Credicorp makes up approximately 5.5% of North of South Capital LLP's holdings, making the stock its 8th biggest holding. North of South Capital LLP owned 0.22% of Credicorp worth $79,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BAP. BlackRock Inc. purchased a new stake in shares of Credicorp during the 2nd quarter valued at $1,933,666,000. Royal Bank of Canada boosted its position in shares of Credicorp by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank's stock worth $584,042,000 after purchasing an additional 13,249 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Credicorp by 15.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank's stock worth $285,854,000 after buying an additional 112,418 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Credicorp during the 2nd quarter worth $325,911,000. Finally, Bank of Nova Scotia purchased a new position in Credicorp during the 2nd quarter worth $311,294,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of BAP stock traded up $4.25 during mid-day trading on Friday, reaching $369.66. The stock had a trading volume of 339,190 shares, compared to its average volume of 371,861. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The firm has a market cap of $34.89 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.72 and a beta of 0.89. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.49. The business's fifty day moving average is $375.10 and its 200-day moving average is $360.43.

Credicorp (NYSE:BAP - Get Free Report) last released its earnings results on Monday, November 9th. The bank reported $7.06 EPS for the quarter, missing analysts' consensus estimates of $7.20 by ($0.14). Credicorp had a return on equity of 20.94% and a net margin of 25.26%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.92 billion. On average, research analysts forecast that Credicorp Ltd. will post 29.29 earnings per share for the current year.

Analysts Set New Price Targets

BAP has been the topic of several recent analyst reports. Weiss Ratings lowered Credicorp from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, November 4th. UBS Group raised their price target on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. upgraded Credicorp from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $431.80.

Credicorp Profile

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services. Its businesses include Banco de Crédito del Perú (BCP), the country's largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.

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