Credicorp Ltd. $BAP Stock Holdings Boosted by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in Credicorp Ltd. (NYSE:BAP) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,953 shares of the bank’s stock after purchasing an additional 4,140 shares during the quarter. Nordea Investment Management AB’s holdings in Credicorp were worth $7,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in Credicorp by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 175,724 shares of the bank’s stock valued at $46,792,000 after acquiring an additional 2,543 shares in the last quarter. First Horizon Corp bought a new stake in shares of Credicorp during the third quarter valued at about $59,000. Bayforest Capital Ltd bought a new stake in shares of Credicorp during the third quarter valued at about $611,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Credicorp by 4.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,301 shares of the bank’s stock valued at $879,000 after buying an additional 136 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in Credicorp during the 3rd quarter valued at about $360,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Up 0.8%

Shares of Credicorp stock opened at $321.40 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $322.77. The firm has a market capitalization of $25.56 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.72 and a beta of 0.89. The stock’s fifty day moving average is $277.59 and its 200-day moving average is $259.89.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Credicorp had a return on equity of 19.50% and a net margin of 23.59%. Equities analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on BAP. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. The Goldman Sachs Group lifted their price target on Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Credicorp currently has a consensus rating of “Moderate Buy” and an average price target of $290.20.

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.