Altrinsic Global Advisors LLC Reduces Stock Holdings in Credicorp Ltd. $BAP

Altrinsic Global Advisors LLC reduced its stake in Credicorp Ltd. (NYSE:BAP) by 99.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,983 shares of the bank’s stock after selling 470,582 shares during the period. Altrinsic Global Advisors LLC’s holdings in Credicorp were worth $1,061,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the third quarter valued at $35,000. MAI Capital Management raised its stake in Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Credicorp during the second quarter valued at $38,000. Spire Wealth Management purchased a new stake in shares of Credicorp during the 3rd quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC raised its position in Credicorp by 37.1% in 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 period. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAP. Zacks Research downgraded 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 report on Saturday, December 20th. The Goldman Sachs Group upped their price objective on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. increased their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Stock Performance

Shares of Credicorp stock opened at $325.82 on Friday. The company has a 50 day moving average price of $337.31 and a 200 day moving average price of $290.24. The firm has a market capitalization of $25.91 billion, a P/E ratio of 13.40, a PEG ratio of 0.73 and a beta of 0.87. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $380.20. 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 posted its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Sell-side analysts expect that Credicorp Ltd. will post 21.9 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.