Credicorp Ltd. $BAP Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Credicorp Ltd. (NYSE:BAP) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,439 shares of the bank’s stock after selling 17,080 shares during the period. Swiss National Bank’s holdings in Credicorp were worth $44,242,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the third quarter worth about $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp in the 2nd quarter valued at about $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Credicorp in the 1st quarter valued at about $40,000. Kestra Advisory Services LLC acquired a new stake in shares of Credicorp in the 4th quarter valued at about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credicorp in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Up 0.7%

Credicorp stock opened at $393.83 on Thursday. The stock has a 50 day moving average of $364.28 and a two-hundred day moving average of $344.89. Credicorp Ltd. has a twelve month low of $230.25 and a twelve month high of $403.30. The stock has a market capitalization of $37.17 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.85 and a beta of 0.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Insider Activity at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the 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 sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on BAP shares. The Goldman Sachs Group lifted their price target on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. UBS Group increased their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a report on Monday, June 15th. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and upped their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Credicorp presently has a consensus rating of “Moderate Buy” and an average target price of $384.33.

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.