Bayforest Capital Ltd Cuts Stock Position in Credicorp Ltd. $BAP

Bayforest Capital Ltd lessened its stake in Credicorp Ltd. (NYSE:BAP) by 70.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 676 shares of the bank’s stock after selling 1,617 shares during the quarter. Bayforest Capital Ltd’s holdings in Credicorp were worth $194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. acquired a new stake in Credicorp during the 3rd quarter worth $35,000. Raymond James Financial Inc. acquired a new position in shares of Credicorp during the 2nd quarter valued at about $38,000. Spire Wealth Management acquired a new position in shares of Credicorp during the 3rd quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp in the 4th quarter valued at about $46,000. Finally, Quarry LP purchased a new stake in Credicorp in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research lowered shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group increased their price target 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Price Performance

Shares of NYSE BAP opened at $335.92 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. The stock has a fifty day moving average price of $338.48 and a 200 day moving average price of $303.84. Credicorp Ltd. has a 1-year low of $183.51 and a 1-year high of $380.20. The company has a market cap of $31.70 billion, a PE ratio of 13.82, a P/E/G ratio of 0.74 and a beta of 0.93.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The firm had revenue of $1.81 billion during the quarter. Sell-side analysts forecast that Credicorp Ltd. will post 29.09 EPS for the current year.

About Credicorp

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.