Walleye Capital LLC Trims Position in Credicorp Ltd. $BAP

Key Points

• Walleye Capital LLC significantly reduced its stake in Credicorp Ltd. by 91.5% during the first quarter, leaving it with only 1,274 shares worth approximately $237,000.
• Other institutional investors are increasing their stakes in Credicorp, with Cerity Partners LLC raising theirs by 37.1% and GAMMA Investing LLC by an astonishing 27,522.6% during the same period.
• Wall Street analysts maintain a generally positive outlook on Credicorp, with a consensus rating of "Moderate Buy" and an average price target of $236.80, following recent upgrades by major firms like Citigroup and Goldman Sachs.

Walleye Capital LLC lessened its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 91.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,274 shares of the bank's stock after selling 13,678 shares during the period. Walleye Capital LLC's holdings in Credicorp were worth $237,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Credicorp by 37.1% in the 1st quarter. Cerity Partners LLC now owns 5,545 shares of the bank's stock worth $1,032,000 after buying an additional 1,500 shares during the period. GAMMA Investing LLC increased its stake in Credicorp by 27,522.6% in the 1st quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after buying an additional 8,532 shares during the period. Quantinno Capital Management LP increased its stake in Credicorp by 29.5% in the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock worth $549,000 after buying an additional 682 shares during the period. Penserra Capital Management LLC purchased a new position in Credicorp in the 1st quarter worth about $122,000. Finally, First Trust Advisors LP increased its stake in Credicorp by 42.0% in the 4th quarter. First Trust Advisors LP now owns 3,298 shares of the bank's stock worth $605,000 after buying an additional 975 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised 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. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, UBS Group reiterated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.80.

Credicorp Stock Down 0.7%

Shares of Credicorp stock opened at $259.80 on Friday. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $263.92. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The firm's 50-day moving average is $239.43 and its two-hundred day moving average is $211.20.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $1.52 billion. As a group, research analysts expect that Credicorp Ltd. will post 21.9 earnings per share 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.

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