SPX Gestao de Recursos Ltda Sells 58,369 Shares of Credicorp Ltd. $BAP

SPX Gestao de Recursos Ltda trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,592 shares of the bank’s stock after selling 58,369 shares during the quarter. Credicorp makes up approximately 2.8% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 12th biggest holding. SPX Gestao de Recursos Ltda’s holdings in Credicorp were worth $34,241,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MAI Capital Management lifted its holdings in Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after buying an additional 159 shares during the period. Raymond James Financial Inc. bought a new position in shares of Credicorp in the 2nd quarter worth $38,000. Spire Wealth Management purchased a new stake in shares of Credicorp during the 3rd quarter worth $42,000. Smartleaf Asset Management LLC boosted its position in Credicorp by 37.1% during the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after purchasing an additional 66 shares in the last quarter. Finally, First Horizon Corp bought a new stake in Credicorp during the third quarter valued at about $59,000. Institutional investors own 89.81% of the company’s stock.

Credicorp Trading Down 0.8%

Credicorp stock opened at $331.43 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. The stock has a market cap of $26.36 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The stock has a 50-day moving average of $332.85 and a two-hundred day moving average of $287.19. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.77 billion. On average, research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. The Goldman Sachs Group lifted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Zacks Research lowered shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $297.60.

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.