Credicorp Ltd. $BAP Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in Credicorp Ltd. (NYSE:BAP) by 6.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 26,078 shares of the bank’s stock after selling 1,875 shares during the period. Nordea Investment Management AB’s holdings in Credicorp were worth $7,478,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the third quarter worth approximately $35,000. Spire Wealth Management purchased a new stake in Credicorp in the third quarter valued at approximately $42,000. MAI Capital Management boosted its holdings in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after acquiring an additional 159 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the second quarter valued at approximately $38,000. Finally, Quarry LP purchased a new position in shares of Credicorp during the third quarter worth approximately $46,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group raised their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reaffirmed 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Trading Up 2.8%

NYSE:BAP opened at $339.35 on Thursday. The firm has a market cap of $26.99 billion, a P/E ratio of 13.96, a PEG ratio of 0.74 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $341.64 and its 200-day simple moving average is $294.27. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share 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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Equities analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current year.

About Credicorp

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.