Fairtree Asset Management Pty Ltd Invests $1.43 Million in Credicorp Ltd. $BAP

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,677 shares of the bank’s stock, valued at approximately $1,432,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in Credicorp during the third quarter worth approximately $35,000. Raymond James Financial Inc. bought a new position in Credicorp in the 2nd quarter worth $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Credicorp during the 1st quarter worth $40,000. Kestra Advisory Services LLC bought a new position in shares of Credicorp in the fourth quarter worth about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp in the fourth quarter worth about $46,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Price Performance

Shares of BAP stock opened at $371.16 on Friday. The stock has a 50 day moving average of $385.15 and a two-hundred day moving average of $353.94. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The company has a market capitalization of $35.03 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.72 and a beta of 0.90.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.31 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. As a group, equities analysts expect that Credicorp Ltd. will post 29.41 EPS for the current year.

Insider Buying and Selling

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp 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 sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. UBS Group raised their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $418.40.

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.