Elevation Point Wealth Partners LLC Takes $802,000 Position in Credicorp Ltd. $BAP

Elevation Point Wealth Partners LLC bought a new stake in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,060 shares of the bank’s stock, valued at approximately $802,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAP. M&T Bank Corp bought a new position in shares of Credicorp during the fourth quarter valued at about $1,403,000. Principal Financial Group Inc. grew its position in shares of Credicorp by 98.9% in the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after buying an additional 288,056 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Credicorp by 24.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 363,084 shares of the bank’s stock valued at $104,265,000 after buying an additional 71,847 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Credicorp during the first quarter valued at approximately $1,800,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in Credicorp in the fourth quarter worth $1,119,000. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BAP. The Goldman Sachs Group lifted their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. UBS Group raised their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Weiss Ratings downgraded Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Stock Up 0.3%

Shares of Credicorp stock opened at $380.03 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $385.70 and a 200 day moving average of $354.05. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.74 and a beta of 0.90. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate of $7.31 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. As a group, sell-side analysts anticipate that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Credicorp 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.