Tidal Investments LLC Boosts Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Tidal Investments increased its Credicorp holdings by 392% in the second quarter, ending with 6,297 shares valued at approximately $2.45 million. Institutional investors collectively own 89.81% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $418.40; UBS and Morgan Stanley raised their targets, while JPMorgan downgraded the stock to neutral.
• Credicorp shares opened at $372.14, down 1%, and remain below their 52-week high of $413.24. The Peruvian financial-services company operates banking, insurance, pension, investment-banking and wealth-management businesses.

Tidal Investments LLC grew its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 392.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,297 shares of the bank's stock after purchasing an additional 5,017 shares during the period. Tidal Investments LLC's holdings in Credicorp were worth $2,453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. National Pension Service lifted its position in shares of Credicorp by 2.9% during the second quarter. National Pension Service now owns 17,398 shares of the bank's stock worth $6,778,000 after acquiring an additional 491 shares in the last quarter. Cidel Asset Management Inc. purchased a new position in shares of Credicorp in the second quarter valued at $209,000. Allworth Financial LP grew its position in shares of Credicorp by 42.9% in the second quarter. Allworth Financial LP now owns 170 shares of the bank's stock valued at $66,000 after purchasing an additional 51 shares in the last quarter. West Family Investments Inc. bought a new stake in shares of Credicorp during the 2nd quarter valued at $218,000. Finally, Amundi raised its stake in shares of Credicorp by 26.4% during the 2nd quarter. Amundi now owns 535,235 shares of the bank's stock valued at $208,517,000 after purchasing an additional 111,785 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group raised their target price on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target on the stock. in a research report on Monday, June 15th. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $418.40.

Credicorp Trading Down 1.0%

Shares of BAP stock opened at $372.14 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a market capitalization of $35.12 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.74 and a beta of 0.88. The business's fifty day moving average is $383.70 and its 200 day moving average is $357.44.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

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