Credicorp Ltd. $BAP Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in Credicorp Ltd. (NYSE:BAP) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,410 shares of the bank’s stock after selling 1,599 shares during the quarter. Hsbc Holdings PLC’s holdings in Credicorp were worth $4,988,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in BAP. Capital World Investors lifted its stake in shares of Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after purchasing an additional 565,490 shares during the last quarter. Norges Bank purchased a new position in shares of Credicorp during the 4th quarter worth $150,814,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Credicorp during the 4th quarter worth about $89,754,000. Invesco Ltd. raised its holdings in Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after buying an additional 290,585 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Credicorp by 98.9% in the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock valued at $166,239,000 after buying an additional 288,056 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BAP shares. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group raised their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $377.00.

Credicorp Price Performance

Shares of BAP opened at $393.45 on Friday. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.83 and a beta of 0.88. The firm’s fifty day simple moving average is $351.75 and its 200-day simple moving average is $338.32. Credicorp Ltd. has a twelve month low of $216.87 and a twelve month high of $399.38. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Insider Transactions at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by insiders.

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.