Credicorp Ltd. $BAP Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Credicorp Ltd. (NYSE:BAP) by 52.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,900 shares of the bank’s stock after acquiring an additional 3,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Credicorp were worth $2,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Credicorp during the 2nd quarter worth $110,945,000. Millennium Management LLC lifted its holdings in shares of Credicorp by 853.1% during the first quarter. Millennium Management LLC now owns 319,076 shares of the bank’s stock valued at $59,399,000 after purchasing an additional 285,597 shares during the last quarter. Bank of America Corp DE boosted its position 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 purchasing an additional 273,305 shares during the period. Altrinsic Global Advisors LLC boosted its position 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 purchasing an additional 264,358 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake 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 in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

BAP stock opened at $285.67 on Friday. The firm has a 50 day simple moving average of $267.62 and a 200 day simple moving average of $253.38. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $292.00. The stock has a market cap of $22.72 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.71 billion. Research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on BAP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Finally, Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $276.60.

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.