Credicorp Ltd. $BAP Stock Position Raised by INCA Investments LLC

Key Points

• INCA Investments LLC increased its stake in Credicorp Ltd. by 5.8% in the second quarter, making it the fund's second-largest holding.
• Credicorp's stock has drawn attention from analysts, with several upgrading their ratings and price targets, including a boost from UBS Group to a target price of $318.00.
• As of the latest filings, 89.81% of Credicorp's stock is owned by institutional investors, indicating strong institutional interest in the bank.

INCA Investments LLC boosted its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 193,947 shares of the bank's stock after purchasing an additional 10,687 shares during the quarter. Credicorp makes up approximately 16.8% of INCA Investments LLC's holdings, making the stock its 2nd largest holding. INCA Investments LLC owned about 0.24% of Credicorp worth $43,351,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BAP. Nuveen LLC bought a new stake in shares of Credicorp in the 1st quarter valued at approximately $77,577,000. Millennium Management LLC increased its holdings in shares of Credicorp by 853.1% in the 1st quarter. Millennium Management LLC now owns 319,076 shares of the bank's stock valued at $59,399,000 after acquiring an additional 285,597 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Credicorp by 811.5% in the 1st quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock valued at $42,655,000 after acquiring an additional 203,992 shares during the last quarter. Carrhae Capital LLP increased its holdings in shares of Credicorp by 389.0% in the 1st quarter. Carrhae Capital LLP now owns 198,875 shares of the bank's stock valued at $37,023,000 after acquiring an additional 158,206 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Credicorp by 21.8% in the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock valued at $161,465,000 after acquiring an additional 155,162 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Credicorp Trading Up 0.3%

Shares of BAP stock opened at $254.78 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $280.88. The stock has a fifty day moving average of $259.21 and a two-hundred day moving average of $226.70. The firm has a market capitalization of $20.27 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11.

Credicorp (NYSE:BAP - Get Free Report) last announced 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. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. As a group, research analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research analyst reports. Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Weiss Ratings restated a "buy (b+)" rating on shares of Credicorp in a research report on Tuesday. HSBC lowered Credicorp from a "buy" rating to a "hold" rating and boosted their price objective for the company from $225.00 to $255.00 in a research report on Friday, September 5th. Zacks Research upgraded Credicorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. Finally, UBS Group boosted their price objective on Credicorp from $257.00 to $318.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.00.

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.

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