Sciencast Management LP Invests $828,000 in Credicorp Ltd. $BAP

Key Points

• Sciencast Management LP has acquired 4,450 shares of Credicorp Ltd valued at approximately $828,000 during the first quarter.
• Institutional investors now own 89.81% of Credicorp's stock, indicating strong institutional interest.
• Analysts have provided a varied outlook on Credicorp, with ratings shifting from "buy" to "hold" and price targets adjusted between $225.00 and $275.00.

Sciencast Management LP bought a new position in Credicorp Ltd. (NYSE:BAP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,450 shares of the bank's stock, valued at approximately $828,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Credicorp during the 1st quarter valued at $77,577,000. Millennium Management LLC boosted its position in Credicorp by 853.1% during the 1st quarter. Millennium Management LLC now owns 319,076 shares of the bank's stock valued at $59,399,000 after buying an additional 285,597 shares during the period. Teacher Retirement System of Texas boosted its position in Credicorp by 811.5% during the 1st quarter. Teacher Retirement System of Texas now owns 229,129 shares of the bank's stock valued at $42,655,000 after buying an additional 203,992 shares during the period. Carrhae Capital LLP boosted its position in Credicorp by 389.0% during the 1st quarter. Carrhae Capital LLP now owns 198,875 shares of the bank's stock valued at $37,023,000 after buying an additional 158,206 shares during the period. Finally, Bank of Nova Scotia boosted 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 valued at $161,465,000 after buying an additional 155,162 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Citigroup raised 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. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and raised their target price for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. HSBC cut shares of 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 report on Friday, September 5th. Finally, Hsbc Global Res raised shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $239.83.

Credicorp Stock Down 0.1%

NYSE:BAP traded down $0.25 on Friday, reaching $266.34. 318,591 shares of the stock traded hands, compared to its average volume of 364,927. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.74 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $268.48. The company's fifty day simple moving average is $244.12 and its 200 day simple moving average is $215.03.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data 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 23.22% and a return on equity of 17.94%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Equities analysts predict that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

About Credicorp

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.