Cubist Systematic Strategies LLC Decreases Position in Credicorp Ltd. $BAP

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Credicorp Ltd. by 60.5% during the first quarter, selling 25,561 shares and now holds 16,699 shares worth approximately $3.1 million.
• Multiple institutional investors, including Royal Bank of Canada and OMERS ADMINISTRATION Corp, have recently increased their stakes in Credicorp, with a significant boost of 84.0% by OMERS ADMINISTRATION Corp.
• Credicorp's quarterly earnings surpassed estimates, reporting an EPS of $6.24 against a consensus of $5.73, and several analysts have raised their price targets for the stock, reflecting a generally positive outlook.

Cubist Systematic Strategies LLC trimmed its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 60.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,699 shares of the bank's stock after selling 25,561 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Credicorp were worth $3,109,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BAP. SVB Wealth LLC purchased a new position in Credicorp during the 1st quarter valued at about $35,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Credicorp in the first quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Credicorp in the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 217 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Credicorp during the 1st quarter worth approximately $108,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Price Performance

BAP traded up $2.04 during trading on Thursday, reaching $266.22. The stock had a trading volume of 457,233 shares, compared to its average volume of 367,964. The business has a 50-day moving average of $243.34 and a 200-day moving average of $213.99. Credicorp Ltd. has a one year low of $165.51 and a one year high of $268.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $21.18 billion, a PE ratio of 14.48, a PEG ratio of 0.73 and a beta of 1.12.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on BAP shares. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Citigroup increased their price objective on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Hsbc Global Res upgraded Credicorp to a "hold" rating in a research report on Friday, September 5th. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, HSBC lowered Credicorp from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $225.00 to $255.00 in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Credicorp currently has an average rating of "Hold" and an average target price of $239.83.

Credicorp Company 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.