Credicorp Ltd. $BAP Shares Acquired by Causeway Capital Management LLC

Causeway Capital Management LLC raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 11.9% in the 3rd quarter, Holdings Channel reports. The fund owned 215,628 shares of the bank’s stock after acquiring an additional 22,870 shares during the quarter. Credicorp accounts for approximately 0.8% of Causeway Capital Management LLC’s portfolio, making the stock its 27th biggest position. Causeway Capital Management LLC’s holdings in Credicorp were worth $57,417,000 as of its most recent filing with the Securities & Exchange Commission.

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

Credicorp Price Performance

BAP stock opened at $329.42 on Tuesday. The stock’s 50 day moving average price is $333.63 and its 200 day moving average price is $288.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. The firm has a market cap of $26.20 billion, a P/E ratio of 13.55, a PEG ratio of 0.75 and a beta of 0.88. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $380.20.

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

Analysts Set New Price Targets

Several analysts have recently commented on BAP shares. The Goldman Sachs Group raised their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.