Capital World Investors Acquires Shares of 1,629,914 Credicorp Ltd. $BAP

Capital World Investors bought a new position in Credicorp Ltd. (NYSE:BAP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,629,914 shares of the bank’s stock, valued at approximately $434,014,000. Capital World Investors owned about 2.05% of Credicorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Credicorp by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after buying an additional 223,497 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Credicorp by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after purchasing an additional 67,249 shares in the last quarter. State Street Corp increased its stake in Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after purchasing an additional 19,361 shares during the period. Pzena Investment Management LLC raised its holdings in Credicorp by 2.5% during the 3rd quarter. Pzena Investment Management LLC now owns 1,053,056 shares of the bank’s stock valued at $280,408,000 after buying an additional 25,339 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of Credicorp by 17.1% during the second quarter. Bank of Nova Scotia now owns 1,015,409 shares of the bank’s stock worth $226,964,000 after purchasing an additional 148,062 shares during the period. 89.81% of the stock is owned by institutional investors.

Credicorp Trading Up 3.5%

Shares of BAP stock opened at $341.17 on Wednesday. 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 has a market capitalization of $27.14 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.75 and a beta of 0.87. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20. The stock’s 50-day moving average price is $334.67 and its 200-day moving average price is $288.88.

Credicorp (NYSE:BAP) last released 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). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. Equities research analysts predict that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.