Credicorp Ltd. (NYSE:BAP) Short Interest Update

Credicorp Ltd. (NYSE:BAP) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 400,500 shares, a decrease of 9.5% from the June 30th total of 442,500 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 397,900 shares, the short-interest ratio is currently 1.0 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ellington Management Group LLC acquired a new position in Credicorp during the 2nd quarter worth $504,000. AMP Capital Investors Ltd lifted its holdings in Credicorp by 8.4% during the 2nd quarter. AMP Capital Investors Ltd now owns 56,041 shares of the bank’s stock worth $12,945,000 after buying an additional 4,320 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Credicorp by 24.7% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,679 shares of the bank’s stock worth $5,648,000 after buying an additional 4,895 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Credicorp during the 2nd quarter worth about $1,876,000. Finally, Bank of Nova Scotia lifted its holdings in Credicorp by 28.5% during the 2nd quarter. Bank of Nova Scotia now owns 1,136,478 shares of the bank’s stock worth $260,151,000 after buying an additional 252,359 shares during the last quarter. Institutional investors and hedge funds own 67.53% of the company’s stock.

Shares of NYSE BAP traded down $3.15 during midday trading on Wednesday, hitting $204.78. The stock had a trading volume of 45,002 shares, compared to its average volume of 295,049. The firm has a market capitalization of $16.54 billion, a P/E ratio of 13.76, a PEG ratio of 0.97 and a beta of 0.70. The company’s 50 day simple moving average is $226.36. Credicorp has a 1 year low of $201.97 and a 1 year high of $252.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.13 and a quick ratio of 1.13.

BAP has been the topic of a number of research reports. ValuEngine lowered Credicorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised Credicorp from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $232.00 to $250.00 in a report on Tuesday. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $245.00 to $250.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $258.00.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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