Bank of Nova Scotia Purchases 15,278 Shares of Credicorp Ltd. $BAP

Bank of Nova Scotia increased its position in Credicorp Ltd. (NYSE:BAP) by 1.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,030,687 shares of the bank’s stock after purchasing an additional 15,278 shares during the period. Bank of Nova Scotia’s holdings in Credicorp were worth $274,451,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAP. Massachusetts Financial Services Co. MA increased its position in shares of Credicorp by 7.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after acquiring an additional 223,497 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Credicorp by 4.2% during the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after acquiring an additional 67,249 shares during the last quarter. Capital World Investors purchased a new stake in shares of Credicorp during the third quarter worth about $434,014,000. Invesco Ltd. grew its stake in shares of Credicorp by 27.4% in the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after purchasing an additional 290,585 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Credicorp by 1.6% in the second quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after purchasing an additional 19,361 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

BAP stock opened at $325.82 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $380.20. The firm has a 50-day moving average of $337.31 and a 200 day moving average of $290.24. The company has a market cap of $25.91 billion, a P/E ratio of 13.40, a PEG ratio of 0.73 and a beta of 0.87.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.77 billion. On average, sell-side analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. The Goldman Sachs Group lifted their price objective on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $297.60.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.