Credicorp Ltd. $BAP Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its stake in Credicorp Ltd. (NYSE:BAP) by 62.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,283 shares of the bank’s stock after selling 118,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Credicorp were worth $18,715,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in Credicorp in the 3rd quarter valued at $42,000. MAI Capital Management grew 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 purchasing an additional 159 shares during the period. Raymond James Financial Inc. acquired a new stake in Credicorp during the second quarter worth about $38,000. First Horizon Corp acquired a new stake in Credicorp during the third quarter worth about $59,000. Finally, Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Down 3.4%

Credicorp stock opened at $329.36 on Friday. The company has a market capitalization of $26.20 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $380.20. The firm has a 50 day moving average price of $314.46 and a 200 day moving average price of $277.17.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, February 12th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a return on equity of 21.54% and a net margin of 24.53%.The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Research analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAP. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group increased their price objective on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research report 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $290.20.

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.