Bank of Nova Scotia Has $226.96 Million Stock Holdings in Credicorp Ltd. $BAP

Bank of Nova Scotia raised its stake in Credicorp Ltd. (NYSE:BAP) by 17.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,015,409 shares of the bank’s stock after acquiring an additional 148,062 shares during the quarter. Bank of Nova Scotia owned about 1.28% of Credicorp worth $226,964,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Summitry LLC bought a new stake in Credicorp during the second quarter worth $257,000. Acadian Asset Management LLC raised its holdings in shares of Credicorp by 46.6% during the 2nd quarter. Acadian Asset Management LLC now owns 464,098 shares of the bank’s stock worth $103,698,000 after buying an additional 147,573 shares in the last quarter. Carrhae Capital LLP raised its holdings in shares of Credicorp by 7.5% during the 2nd quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock worth $47,790,000 after buying an additional 14,931 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Credicorp during the 2nd quarter worth $418,000. Finally, Resona Asset Management Co. Ltd. boosted its stake in Credicorp by 7.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 19,391 shares of the bank’s stock valued at $4,335,000 after buying an additional 1,378 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Credicorp from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 1st. UBS Group increased their price target on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Hsbc Global Res upgraded Credicorp to a “hold” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.17.

Credicorp Trading Down 1.8%

Shares of BAP stock opened at $272.75 on Monday. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $280.88. 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 cap of $21.69 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.69 and a beta of 0.90. The stock has a 50-day moving average of $258.30 and a 200-day moving average of $244.46.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. On average, equities research analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current 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.