Candriam S.C.A. Boosts Stake in Credicorp Ltd. $BAP

Candriam S.C.A. raised its holdings in Credicorp Ltd. (NYSE:BAP) by 146.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,390 shares of the bank’s stock after acquiring an additional 100,030 shares during the period. Candriam S.C.A. owned approximately 0.21% of Credicorp worth $44,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Credicorp by 42.2% in the 3rd quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock worth $77,534,000 after purchasing an additional 86,340 shares in the last quarter. Summitry LLC bought a new stake in Credicorp in the 2nd quarter worth approximately $257,000. Asset Management One Co. Ltd. boosted its stake in Credicorp by 19.3% in the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock worth $3,333,000 after buying an additional 2,023 shares in the last quarter. Nordea Investment Management AB boosted its stake in Credicorp by 17.4% in the third quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after buying an additional 4,140 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Credicorp by 25.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock valued at $77,551,000 after acquiring an additional 58,690 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of Credicorp stock opened at $353.58 on Monday. The company’s fifty day simple moving average is $306.66 and its two-hundred day simple moving average is $273.65. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20. The firm has a market cap of $28.12 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.78 and a beta of 0.87. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, beating the consensus estimate of $6.05 by $0.12. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. As a group, equities analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Analysts Set New Price Targets

BAP has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, The Goldman Sachs Group raised their price objective on Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $290.20.

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.