Virtu Financial LLC Makes New Investment in Credicorp Ltd. $BAP

Key Points

• Virtu Financial LLC has invested approximately $327,000 in Credicorp Ltd. by acquiring 1,755 shares during the first quarter.
• Institutional investors now own over 89% of Credicorp, with notable increases in holdings from Cerity Partners LLC and GAMMA Investing LLC.
• Credicorp's stock has received mixed analyst ratings, with a recent upgrade from Goldman Sachs setting a new price target at $225.00, while Wall Street Zen downgraded it to a "hold" rating.

Virtu Financial LLC acquired a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,755 shares of the bank's stock, valued at approximately $327,000.

Several other hedge funds have also bought and sold shares of BAP. LPL Financial LLC grew its position in Credicorp by 44.4% in the 4th quarter. LPL Financial LLC now owns 4,419 shares of the bank's stock valued at $810,000 after purchasing an additional 1,358 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Credicorp by 40.3% in the 4th quarter. Alliancebernstein L.P. now owns 3,513 shares of the bank's stock worth $644,000 after buying an additional 1,009 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Credicorp by 45.7% during the 4th quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after buying an additional 217 shares during the last quarter. Cerity Partners LLC lifted its holdings in Credicorp by 31.8% during the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock valued at $735,000 after purchasing an additional 977 shares during the last quarter. Finally, Synovus Financial Corp raised its position in shares of Credicorp by 1.7% in the fourth quarter. Synovus Financial Corp now owns 4,940 shares of the bank's stock valued at $906,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of recent analyst reports. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $227.25.

Credicorp Stock Performance

NYSE BAP traded down $0.4650 on Tuesday, reaching $252.7550. 95,844 shares of the stock were exchanged, compared to its average volume of 313,076. Credicorp Ltd. has a one year low of $165.48 and a one year high of $255.39. The firm has a market capitalization of $20.10 billion, a PE ratio of 13.74, a PEG ratio of 0.79 and a beta of 1.09. The company's 50-day simple moving average is $229.86 and its two-hundred day simple moving average is $205.37. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last released its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping 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 company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. Analysts expect 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.