SteelPeak Wealth LLC Sells 33,581 Shares of Credicorp Ltd. $BAP

SteelPeak Wealth LLC cut its stake in shares of Credicorp Ltd. (NYSE:BAP) by 93.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,419 shares of the bank’s stock after selling 33,581 shares during the period. SteelPeak Wealth LLC’s holdings in Credicorp were worth $694,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of Credicorp by 42.2% in the third quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock valued at $77,534,000 after buying an additional 86,340 shares in the last quarter. Nordea Investment Management AB raised its position in Credicorp by 17.4% during the third quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after acquiring an additional 4,140 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Credicorp by 19.3% in the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock valued at $3,333,000 after acquiring an additional 2,023 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Credicorp by 25.2% in the third 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 last quarter. Finally, ARGA Investment Management LP grew its position in shares of Credicorp by 1.3% in the 3rd quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock valued at $185,935,000 after acquiring an additional 8,758 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAP. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Price Performance

Shares of BAP opened at $340.03 on Monday. The company’s 50-day moving average is $342.14 and its 200-day moving average is $297.70. 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 firm has a market capitalization of $27.05 billion, a PE ratio of 13.99, a PEG ratio of 0.76 and a beta of 0.93. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $380.20.

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

Credicorp Company 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.