Bank of Nova Scotia grew its stake in Credicorp Ltd. (NYSE:BAP) by 42.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,054 shares of the bank’s stock after purchasing an additional 156,944 shares during the quarter. Bank of Nova Scotia owned approximately 0.66% of Credicorp worth $118,651,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of BAP. OppenheimerFunds Inc. raised its position in shares of Credicorp by 28.0% in the first quarter. OppenheimerFunds Inc. now owns 2,548,203 shares of the bank’s stock valued at $578,543,000 after purchasing an additional 556,983 shares during the period. Baillie Gifford & Co. raised its position in shares of Credicorp by 45.8% in the second quarter. Baillie Gifford & Co. now owns 1,762,130 shares of the bank’s stock valued at $396,691,000 after purchasing an additional 553,168 shares during the period. California Public Employees Retirement System raised its position in shares of Credicorp by 176.3% in the second quarter. California Public Employees Retirement System now owns 253,948 shares of the bank’s stock valued at $57,169,000 after purchasing an additional 162,052 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Credicorp by 204.0% in the second quarter. Artisan Partners Limited Partnership now owns 212,571 shares of the bank’s stock valued at $47,854,000 after purchasing an additional 142,635 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Credicorp by 24.4% in the first quarter. Principal Financial Group Inc. now owns 567,897 shares of the bank’s stock valued at $128,935,000 after purchasing an additional 111,353 shares during the period. 66.66% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Credit Suisse Group increased their price objective on shares of Credicorp from $240.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday, May 25th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $252.00.
Shares of BAP opened at $213.34 on Monday. The stock has a market capitalization of $16.94 billion, a PE ratio of 15.44, a P/E/G ratio of 1.25 and a beta of 0.92. Credicorp Ltd. has a fifty-two week low of $189.69 and a fifty-two week high of $239.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.19 and a current ratio of 1.19.
Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, August 9th. The bank reported $3.76 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.02. Credicorp had a net margin of 26.81% and a return on equity of 19.48%. The business had revenue of $955.13 million for the quarter. equities research analysts anticipate that Credicorp Ltd. will post 15.77 EPS for the current fiscal year.
Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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