1,425 Credicorp Ltd. $BAP Shares Acquired by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. raised its stake in shares of Credicorp Ltd. (NYSE:BAP) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,596 shares of the bank’s stock after buying an additional 1,425 shares during the period. Letko Brosseau & Associates Inc. owned about 0.11% of Credicorp worth $37,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Credicorp in the 2nd quarter worth $1,933,666,000. Pzena Investment Management LLC purchased a new stake in Credicorp during the second quarter valued at $325,911,000. Bank of Nova Scotia purchased a new stake in Credicorp during the second quarter valued at $311,294,000. Bank of America Corp DE purchased a new stake in Credicorp during the second quarter valued at $264,501,000. Finally, William Blair Investment Management LLC bought a new position in Credicorp in the second quarter valued at about $243,544,000. 89.81% of the stock is owned by institutional investors.

Credicorp Trading Down 1.0%

Shares of BAP stock opened at $365.17 on Friday. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24. The firm has a fifty day moving average price of $375.39 and a 200-day moving average price of $360.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.03 and a quick ratio of 1.00. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.72 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Monday, November 9th. The bank reported $7.06 EPS for the quarter, missing the consensus estimate of $7.20 by ($0.14). Credicorp had a return on equity of 20.94% and a net margin of 25.26%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.92 billion. As a group, equities analysts predict that Credicorp Ltd. will post 29.29 earnings per share for the current year.

Analyst Ratings Changes

BAP has been the topic of several research reports. The Goldman Sachs Group raised their target price on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. raised shares of Credicorp from a “neutral” rating to an “overweight” rating and upped their price target for the company from $453.00 to $482.00 in a research report on Wednesday, September 16th. Finally, UBS Group increased 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, August 20th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Credicorp has an average rating of “Moderate Buy” and a consensus target price of $431.80.

Credicorp Profile

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services. Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.