Bank of Nova Scotia Buys 148,062 Shares of Credicorp Ltd. $BAP

Bank of Nova Scotia raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,015,409 shares of the bank’s stock after acquiring an additional 148,062 shares during the period. Bank of Nova Scotia’s holdings in Credicorp were worth $226,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SVB Wealth LLC purchased a new stake in shares of Credicorp during the 1st quarter worth approximately $35,000. MAI Capital Management increased its position in Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after buying an additional 159 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Credicorp by 33.5% in the second quarter. First Horizon Advisors Inc. now owns 283 shares of the bank’s stock valued at $63,000 after buying an additional 71 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Credicorp in the first quarter valued at $78,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Credicorp during the 1st quarter valued at $88,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Price Performance

BAP opened at $272.75 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $21.69 billion, a P/E ratio of 12.29, a PEG ratio of 0.69 and a beta of 0.90. The stock has a 50-day moving average price of $258.30 and a 200-day moving average price of $244.46. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $280.88.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. Equities analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BAP shares. JPMorgan Chase & Co. increased their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 1st. Citigroup lifted their price objective on shares of Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Hsbc Global Res raised shares of Credicorp to a “hold” rating in a report on Friday, September 5th. Finally, HSBC downgraded Credicorp from a “buy” rating to a “hold” rating and increased their target price for the stock from $225.00 to $255.00 in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $265.17.

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.