SteelPeak Wealth LLC Invests $9.59 Million in Credicorp Ltd. $BAP

SteelPeak Wealth LLC purchased a new stake in shares of Credicorp Ltd. (NYSE:BAP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 36,000 shares of the bank’s stock, valued at approximately $9,586,000.

A number of other large investors have also recently bought and sold shares of BAP. Norges Bank acquired a new position in Credicorp during the second quarter worth $110,945,000. Millennium Management LLC increased its holdings in shares of Credicorp by 853.1% during the 1st quarter. Millennium Management LLC now owns 319,076 shares of the bank’s stock valued at $59,399,000 after acquiring an additional 285,597 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Credicorp by 125.5% in the 2nd quarter. Bank of America Corp DE now owns 491,046 shares of the bank’s stock valued at $109,759,000 after acquiring an additional 273,305 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Credicorp by 125.8% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 474,565 shares of the bank’s stock valued at $106,075,000 after acquiring an additional 264,358 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Credicorp by 67.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 528,259 shares of the bank’s stock worth $118,076,000 after purchasing an additional 213,651 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. HSBC lowered shares of Credicorp from a “buy” rating to a “hold” rating and boosted their target price for the stock from $225.00 to $255.00 in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $276.60.

Credicorp Stock Performance

NYSE BAP opened at $285.67 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. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.73 and a beta of 0.88. The company’s fifty day moving average is $267.62 and its two-hundred day moving average is $253.38. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $292.00.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, beating analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. Equities research analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current 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.