Letko Brosseau & Associates Inc. Boosts Holdings in Credicorp Ltd. $BAP

Letko Brosseau & Associates Inc. boosted its position in shares of Credicorp Ltd. (NYSE:BAP) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,221 shares of the bank’s stock after buying an additional 3,950 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.13% of Credicorp worth $29,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BAP. Capital World Investors purchased a new position in Credicorp during the third quarter worth $434,014,000. Norges Bank bought a new stake in shares of Credicorp during the fourth quarter worth $150,814,000. William Blair Investment Management LLC lifted its position in shares of Credicorp by 71.6% during the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock worth $218,369,000 after purchasing an additional 342,308 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Credicorp during the fourth quarter worth $89,754,000. Finally, Mondrian Investment Partners LTD bought a new stake in shares of Credicorp during the third quarter worth $78,211,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

Shares of Credicorp stock opened at $349.71 on Wednesday. The company has a market capitalization of $33.01 billion, a PE ratio of 13.48, a P/E/G ratio of 0.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50-day simple moving average of $332.79 and a two-hundred day simple moving average of $320.89. Credicorp Ltd. has a one year low of $212.31 and a one year high of $380.20.

Credicorp (NYSE:BAP) last announced its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. Research analysts expect that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. UBS Group lifted their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Credicorp has an average rating of “Moderate Buy” and an average price target of $356.40.

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.