Tidal Investments LLC Increases Stock Position in Credicorp Ltd. $BAP

Tidal Investments LLC raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 392.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,297 shares of the bank’s stock after purchasing an additional 5,017 shares during the period. Tidal Investments LLC’s holdings in Credicorp were worth $2,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Credicorp in the 2nd quarter worth $1,933,666,000. Capital World Investors lifted its holdings in shares of Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after acquiring an additional 565,490 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Credicorp by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after acquiring an additional 13,249 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Credicorp in the second quarter worth $325,911,000. Finally, Bank of Nova Scotia purchased a new position in Credicorp in the second quarter worth $311,294,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Performance

Credicorp stock opened at $372.14 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $35.12 billion, a PE ratio of 13.79, a P/E/G ratio of 0.74 and a beta of 0.88. The firm has a fifty day simple moving average of $383.70 and a two-hundred day simple moving average of $357.44. Credicorp Ltd. has a twelve month low of $230.45 and a twelve month high of $413.24.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group raised their price target on Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. The Goldman Sachs Group upped their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings upgraded Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, September 3rd. HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.