Allspring Global Investments Holdings LLC Trims Holdings in Credicorp Ltd. $BAP

Allspring Global Investments Holdings LLC reduced its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,933 shares of the bank’s stock after selling 7,578 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Credicorp worth $31,200,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BAP. Capital World Investors bought a new position in shares of Credicorp during the third quarter valued at approximately $434,014,000. Norges Bank purchased a new stake in shares of Credicorp in the 2nd quarter worth approximately $110,945,000. William Blair Investment Management LLC increased its position in Credicorp by 71.6% during the 3rd quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock valued at $218,369,000 after buying an additional 342,308 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in Credicorp during the 3rd quarter valued at approximately $78,211,000. Finally, Invesco Ltd. raised its stake in Credicorp by 27.4% during the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after buying an additional 290,585 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Credicorp Stock Down 0.4%

BAP stock opened at $340.03 on Friday. The stock has a market capitalization of $27.05 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.76 and a beta of 0.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $380.20. The business has a fifty day moving average price of $342.22 and a 200-day moving average price of $296.87.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The company had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.43% and a net margin of 24.53%. Equities analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded 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 shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.60.

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.