Hsbc Holdings PLC Acquires 41,734 Shares of Credicorp Ltd. $BAP

Hsbc Holdings PLC raised its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 23.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,855 shares of the bank’s stock after purchasing an additional 41,734 shares during the period. Hsbc Holdings PLC owned 0.23% of Credicorp worth $84,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth approximately $1,933,666,000. Capital World Investors raised its holdings in shares of Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after acquiring an additional 565,490 shares in the last quarter. Royal Bank of Canada lifted its stake in Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after acquiring an additional 13,249 shares during the period. Invesco Ltd. lifted its stake in Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after acquiring an additional 31,383 shares during the period. Finally, State Street Corp boosted its holdings in Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after acquiring an additional 69,329 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

BAP stock opened at $382.97 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50 day moving average price of $385.33 and a 200-day moving average price of $355.95. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The firm has a market capitalization of $36.14 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.75 and a beta of 0.88.

Wall Street Analyst Weigh In

BAP has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research note on Monday, June 15th. Weiss Ratings upgraded shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Finally, UBS Group increased their price target on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus 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.