DNB Asset Management AS Boosts Stake in Credicorp Ltd. $BAP

DNB Asset Management AS increased its stake in Credicorp Ltd. (NYSE:BAP) by 34.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,199 shares of the bank’s stock after purchasing an additional 5,462 shares during the quarter. DNB Asset Management AS’s holdings in Credicorp were worth $5,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Credicorp in the first quarter worth about $78,000. Assetmark Inc. grew its stake in shares of Credicorp by 14.1% during the 2nd quarter. Assetmark Inc. now owns 19,823 shares of the bank’s stock valued at $4,431,000 after acquiring an additional 2,454 shares during the period. Carrhae Capital LLP grew its stake in shares of Credicorp by 7.5% during the 2nd quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after acquiring an additional 14,931 shares during the period. First Horizon Advisors Inc. increased its holdings in Credicorp by 33.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 283 shares of the bank’s stock worth $63,000 after acquiring an additional 71 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in Credicorp by 7.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 19,391 shares of the bank’s stock worth $4,335,000 after acquiring an additional 1,378 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of NYSE BAP opened at $347.17 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $27.61 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.79 and a beta of 0.88. The firm’s fifty day moving average is $327.96 and its two-hundred day moving average is $284.64. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $380.20.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. As a group, analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAP. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, The Goldman Sachs Group upped their price objective on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $297.60.

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.