Fisher Asset Management LLC Boosts Stake in Credicorp Ltd. $BAP

Fisher Asset Management LLC increased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,368 shares of the bank’s stock after purchasing an additional 3,747 shares during the quarter. Fisher Asset Management LLC owned approximately 0.07% of Credicorp worth $14,211,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Finally, Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Stock Performance

BAP opened at $339.92 on Thursday. The firm’s fifty day simple moving average is $331.15 and its two-hundred day simple moving average is $286.32. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $380.20. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.75 and a beta of 0.87. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last announced its earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Equities analysts anticipate 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.