Jump Financial LLC Acquires Shares of 46,403 Credicorp Ltd. $BAP

Key Points

• Jump Financial LLC has acquired 46,403 shares of Credicorp Ltd. (NYSE:BAP) worth approximately $8.6 million, representing a 0.06% ownership in the company as of the end of the first quarter.
• Various institutional investors have increased their stakes in Credicorp, with notable increases including Itau Unibanco by 243.8% and the Teacher Retirement System of Texas by 811.5% in the first quarter.
• Several brokerages have upgraded Credicorp's stock ratings recently, with Goldman Sachs moving it from "sell" to "neutral" and Citigroup setting a new target price of $275.00, indicating positive market sentiment.

Jump Financial LLC purchased a new position in Credicorp Ltd. (NYSE:BAP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 46,403 shares of the bank's stock, valued at approximately $8,638,000. Jump Financial LLC owned about 0.06% of Credicorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAP. Massachusetts Financial Services Co. MA increased its holdings in shares of Credicorp by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock valued at $564,559,000 after acquiring an additional 7,692 shares during the period. Itau Unibanco Holding S.A. raised its position in Credicorp by 243.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock worth $290,920,000 after buying an additional 1,217,368 shares during the last quarter. Bank of Nova Scotia raised its position in Credicorp by 21.8% during the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock worth $161,465,000 after buying an additional 155,162 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Credicorp by 59.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock worth $138,824,000 after buying an additional 282,869 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Credicorp by 2.9% during the 4th quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock worth $137,070,000 after buying an additional 20,785 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Trading Up 1.5%

Shares of BAP stock traded up $3.73 during trading hours on Thursday, hitting $256.06. 257,946 shares of the company were exchanged, compared to its average volume of 318,382. The firm has a market cap of $20.37 billion, a PE ratio of 13.92, a PEG ratio of 0.70 and a beta of 1.09. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $256.99. 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 firm has a fifty day moving average of $234.62 and a 200 day moving average of $208.23.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.51. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. Analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price target for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.