Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in Credicorp Ltd. $BAP

Mitsubishi UFJ Trust & Banking Corp grew its position in Credicorp Ltd. (NYSE:BAP) by 25.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 291,237 shares of the bank’s stock after acquiring an additional 58,690 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Credicorp were worth $77,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of BAP. Spire Wealth Management acquired a new stake in Credicorp during the 3rd quarter worth $42,000. MAI Capital Management raised its holdings in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Credicorp during the second quarter worth about $38,000. First Horizon Corp purchased a new position in shares of Credicorp during the third quarter worth about $59,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Credicorp by 37.1% during the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after buying an additional 66 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Stock Up 1.0%

BAP opened at $344.05 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $344.50. The stock has a market capitalization of $27.37 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.77 and a beta of 0.89. The business has a 50 day simple moving average of $285.17 and a 200-day simple moving average of $263.89.

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

Credicorp Company Profile

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.