TD Asset Management Inc Invests $486,000 in Credicorp Ltd. $BAP

TD Asset Management Inc purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,824 shares of the bank’s stock, valued at approximately $486,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAP. Spire Wealth Management acquired a new position in Credicorp in the 3rd quarter valued at approximately $42,000. MAI Capital Management boosted its stake in shares of Credicorp by 5,300.0% during the 2nd 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 period. Raymond James Financial Inc. acquired a new stake in shares of Credicorp during the 2nd quarter valued at $38,000. First Horizon Corp purchased a new position in shares of Credicorp during the 3rd quarter valued at $59,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Down 0.8%

BAP stock opened at $331.43 on Friday. The firm has a market cap of $26.36 billion, a PE ratio of 13.63, a PEG ratio of 0.76 and a beta of 0.87. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $380.20. The company has a fifty day simple moving average of $332.85 and a 200 day simple moving average of $287.19. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

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

Wall Street Analysts Forecast Growth

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

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.