Credicorp Ltd. (NYSE:BAP) Sees Significant Decrease in Short Interest

Credicorp Ltd. (NYSE:BAP) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 611,400 shares, a decline of 5.7% from the October 15th total of 648,300 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 234,700 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BAP. Dodge & Cox increased its stake in shares of Credicorp by 8.5% in the first quarter. Dodge & Cox now owns 5,540,562 shares of the bank’s stock worth $733,515,000 after acquiring an additional 435,900 shares during the last quarter. BlackRock Inc. increased its stake in shares of Credicorp by 2.9% in the first quarter. BlackRock Inc. now owns 4,779,137 shares of the bank’s stock worth $632,710,000 after acquiring an additional 132,493 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Credicorp by 1.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,053,247 shares of the bank’s stock worth $390,724,000 after acquiring an additional 55,018 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Credicorp by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 2,954,170 shares of the bank’s stock worth $391,104,000 after acquiring an additional 14,270 shares during the last quarter. Finally, FMR LLC boosted its holdings in Credicorp by 1.4% in the third quarter. FMR LLC now owns 2,656,459 shares of the bank’s stock worth $339,947,000 after purchasing an additional 36,795 shares in the last quarter. Institutional investors own 70.05% of the company’s stock.

Analysts Set New Price Targets

BAP has been the subject of several analyst reports. StockNews.com initiated coverage on Credicorp in a report on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on Credicorp from $175.00 to $162.00 and set a “neutral” rating for the company in a report on Monday. Finally, Jefferies Financial Group initiated coverage on Credicorp in a report on Monday, October 16th. They issued a “buy” rating and a $161.20 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.30.

Credicorp Trading Up 2.3 %

BAP stock traded up $2.89 during midday trading on Friday, hitting $127.76. The stock had a trading volume of 243,670 shares, compared to its average volume of 321,054. The firm has a market cap of $10.16 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 0.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 1.00. Credicorp has a 12-month low of $116.42 and a 12-month high of $160.15. The company’s 50-day moving average price is $127.43 and its 200 day moving average price is $138.56.

Credicorp (NYSE:BAP) last posted its earnings results on Monday, August 14th. The bank reported $3.88 earnings per share for the quarter, missing the consensus estimate of $4.38 by ($0.50). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. Credicorp had a net margin of 22.00% and a return on equity of 15.02%. On average, equities research analysts predict that Credicorp will post 16.8 earnings per share for the current fiscal year.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. Its Universal Banking segment includes granting various credits and financial instruments to individuals and legal entities; and various deposits and checking accounts. The Insurance and Pensions segment includes the issuance of insurance policies to cover losses in commercial property, transport, marine vessels, automobiles, life, health, and pensions; management services for private pension funds.