Global Retirement Partners LLC Acquires New Position in Credicorp Ltd. $BAP

Global Retirement Partners LLC purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,871 shares of the bank’s stock, valued at approximately $418,000.

Other hedge funds have also recently bought and sold shares of the company. MAI Capital Management boosted its position in Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after acquiring an additional 159 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Credicorp by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after acquiring an additional 67,249 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Credicorp by 2.7% in the second quarter. DNB Asset Management AS now owns 15,737 shares of the bank’s stock valued at $3,518,000 after acquiring an additional 421 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Credicorp by 50.3% during the second quarter. Handelsbanken Fonder AB now owns 304,295 shares of the bank’s stock valued at $68,016,000 after acquiring an additional 101,865 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in Credicorp by 8.6% during the second quarter. Artisan Partners Limited Partnership now owns 124,506 shares of the bank’s stock worth $27,830,000 after purchasing an additional 9,837 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Credicorp Trading Up 0.5%

NYSE:BAP opened at $257.21 on Friday. The stock has a fifty day simple moving average of $258.22 and a 200 day simple moving average of $241.95. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $280.88. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, beating analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. Sell-side analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BAP shares. JPMorgan Chase & Co. increased their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. HSBC cut Credicorp from a “buy” rating to a “hold” rating and raised their target price for the company from $225.00 to $255.00 in a research note on Friday, September 5th. Citigroup boosted their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. UBS Group raised their price objective on shares of Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Hsbc Global Res upgraded shares of Credicorp to a “hold” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $265.17.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.