Bank of Nova Scotia Has $161.47 Million Holdings in Credicorp Ltd. (NYSE:BAP)

Key Points

• The Bank of Nova Scotia increased its stake in Credicorp Ltd. by 21.8%, owning approximately 1.09% of the company valued at $161.47 million, following its recent 13F filing.
• Several hedge funds, including Itau Unibanco and Canada Pension Plan Investment Board, also significantly boosted their holdings in Credicorp during the last quarter, demonstrating strong institutional interest.
• Credicorp recently announced an annual dividend of $10.9577 per share, a significant increase from the previous annual dividend of $2.91, indicating robust financial performance.

Bank of Nova Scotia boosted its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 21.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 867,347 shares of the bank's stock after purchasing an additional 155,162 shares during the quarter. Bank of Nova Scotia owned about 1.09% of Credicorp worth $161,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of Credicorp by 31.8% in the 4th quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock valued at $735,000 after acquiring an additional 977 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Credicorp by 27,522.6% in the 1st quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock valued at $1,594,000 after acquiring an additional 8,532 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Credicorp by 29.5% in the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock valued at $549,000 after acquiring an additional 682 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Credicorp in the 1st quarter valued at about $122,000. Finally, Quarry LP bought a new stake in shares of Credicorp in the 4th quarter valued at about $47,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research reports. UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $227.25.

Credicorp Stock Performance

BAP traded up $0.62 during trading hours on Wednesday, reaching $242.62. The company's stock had a trading volume of 193,396 shares, compared to its average volume of 311,794. Credicorp Ltd. has a 52 week low of $160.35 and a 52 week high of $249.63. The company's 50-day moving average is $223.38 and its 200-day moving average is $201.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $19.30 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.86 and a beta of 1.09.

Credicorp Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were paid a $10.9577 dividend. This represents a yield of 450.0%. This is a boost from Credicorp's previous annual dividend of $2.91. The ex-dividend date of this dividend was Monday, May 19th. Credicorp's payout ratio is presently 59.87%.

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.