Short Interest in Credicorp Ltd. (NYSE:BAP) Grows By 24.2%

Credicorp Ltd. (NYSE:BAP) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 938,100 shares, anincreaseof24.2% from the July 15th total of 755,300 shares. Approximately1.8% of the company’s stock are sold short. Based on an average daily volume of 328,100 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 328,100 shares, the days-to-cover ratio is currently 2.9 days. Approximately1.8% of the company’s stock are sold short.

Institutional Trading of Credicorp

Several hedge funds and other institutional investors have recently bought and sold shares of BAP. Massachusetts Financial Services Co. MA grew its position in shares of Credicorp by 0.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank’s stock worth $564,559,000 after purchasing an additional 7,692 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Credicorp by 243.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank’s stock valued at $290,920,000 after buying an additional 1,217,368 shares during the period. Royal Bank of Canada grew its position in Credicorp by 0.9% during the first quarter. Royal Bank of Canada now owns 1,695,980 shares of the bank’s stock worth $315,724,000 after buying an additional 14,852 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Credicorp by 4.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock worth $368,873,000 after acquiring an additional 67,249 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Credicorp by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,343,531 shares of the bank’s stock worth $250,112,000 after acquiring an additional 13,592 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Price Performance

NYSE:BAP opened at $248.9510 on Thursday. The company has a market cap of $19.80 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.69 and a beta of 1.09. The firm’s fifty day moving average price is $231.15 and its two-hundred day moving average price is $205.98. Credicorp has a one year low of $165.48 and a one year high of $255.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.03.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.52 billion. Equities analysts expect that Credicorp will post 21.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BAP shares. The Goldman Sachs Group raised shares of Credicorp from a “sell” rating to a “neutral” rating and raised their target price for the company from $174.00 to $225.00 in a research report on Thursday, July 24th. Citigroup increased their price objective on shares of Credicorp from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group restated a “buy” rating on shares of Credicorp in a report on Monday, June 2nd. Finally, Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.80.

Credicorp Company Profile

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.