ARGA Investment Management LP Purchases 8,758 Shares of Credicorp Ltd. $BAP

ARGA Investment Management LP grew its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 698,267 shares of the bank’s stock after buying an additional 8,758 shares during the period. Credicorp accounts for about 4.9% of ARGA Investment Management LP’s investment portfolio, making the stock its 9th biggest holding. ARGA Investment Management LP owned 0.88% of Credicorp worth $185,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in Credicorp by 25.2% in the 3rd 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 period. Teacher Retirement System of Texas boosted its position in Credicorp by 0.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 222,075 shares of the bank’s stock worth $59,134,000 after acquiring an additional 1,556 shares during the period. Simplicity Wealth LLC bought a new position in shares of Credicorp in the third quarter worth $312,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Credicorp during the third quarter valued at $215,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Credicorp by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after purchasing an additional 223,497 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. upped their price target on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. The Goldman Sachs Group increased their price objective on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.20.

Credicorp Price Performance

Shares of NYSE BAP opened at $344.05 on Friday. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $344.50. 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 firm has a 50-day moving average of $285.17 and a two-hundred day moving average of $263.63. The company has a market capitalization of $27.37 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.76 and a beta of 0.89.

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