Credicorp Ltd. $BAP Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lowered its position in Credicorp Ltd. (NYSE:BAP) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,030 shares of the bank’s stock after selling 1,900 shares during the quarter. Raiffeisen Bank International AG’s holdings in Credicorp were worth $4,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BAP. Principal Financial Group Inc. increased its holdings in shares of Credicorp by 42.2% in the 3rd quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock valued at $77,534,000 after acquiring an additional 86,340 shares during the period. Nordea Investment Management AB boosted its stake in Credicorp by 17.4% during the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after purchasing an additional 4,140 shares during the period. Summitry LLC purchased a new position in Credicorp during the 2nd quarter worth $257,000. Asset Management One Co. Ltd. increased its stake in Credicorp by 19.3% in the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock valued at $3,333,000 after purchasing an additional 2,023 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Credicorp by 25.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock valued at $77,551,000 after purchasing an additional 58,690 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BAP shares. JPMorgan Chase & Co. increased their target price 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. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Trading Up 0.1%

Shares of Credicorp stock opened at $349.88 on Friday. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $380.20. The company’s 50-day simple moving average is $320.92 and its 200-day simple moving average is $280.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

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.