BIT Capital GmbH Boosts Position in Credicorp Ltd. $BAP

BIT Capital GmbH grew its position in Credicorp Ltd. (NYSE:BAP) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,539 shares of the bank’s stock after buying an additional 1,763 shares during the quarter. BIT Capital GmbH’s holdings in Credicorp were worth $3,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BAP. Spire Wealth Management acquired a new stake in Credicorp in the 3rd quarter valued at about $42,000. MAI Capital Management grew its position in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the 2nd quarter worth approximately $38,000. First Horizon Corp acquired a new position in shares of Credicorp during the 3rd quarter worth approximately $59,000. Finally, Smartleaf Asset Management LLC lifted its stake in Credicorp by 37.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BAP. JPMorgan Chase & Co. boosted their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Wall Street Zen downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Price Performance

BAP stock opened at $348.76 on Friday. The company has a market cap of $27.74 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.78 and a beta of 0.87. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $319.57 and a two-hundred day moving average price of $279.77. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. As a group, research analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

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.