PDT Partners LLC Invests $1.04 Million in Credicorp Ltd. $BAP

Key Points

• PDT Partners LLC has acquired a new stake in Credicorp Ltd., purchasing 5,603 shares valued at approximately $1,043,000.
• Institutional investors own 89.81% of Credicorp's stock, indicating strong institutional interest.
• Recent analysts' upgrades have led to a consensus rating of "Moderate Buy" for Credicorp, with the price target raised to $236.80.

PDT Partners LLC acquired a new stake in Credicorp Ltd. (NYSE:BAP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,603 shares of the bank's stock, valued at approximately $1,043,000.

Several other large investors also recently modified their holdings of the stock. SVB Wealth LLC acquired a new stake in shares of Credicorp in the 1st quarter valued at about $35,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Credicorp in the 1st quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Credicorp in the 4th quarter valued at about $40,000. Farther Finance Advisors LLC lifted its position in Credicorp by 2,170.0% in the 1st 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 purchased a new position in Credicorp during the 1st quarter worth $108,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Credicorp Stock Performance

BAP traded up $2.68 during mid-day trading on Tuesday, reaching $266.18. 50,046 shares of the company traded hands, compared to its average volume of 319,941. The stock has a market capitalization of $21.17 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.72 and a beta of 1.12. 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 company's fifty day moving average price is $240.96 and its 200-day moving average price is $212.69. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $268.48.

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

Analyst Ratings Changes

BAP has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of 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 raised Credicorp to a "hold" rating in a report on Friday. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, HSBC cut Credicorp from a "buy" rating to a "hold" rating and raised their target price for the stock from $225.00 to $255.00 in a research note on Friday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Credicorp presently has a consensus rating of "Hold" and an average price target of $239.83.

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.