Credicorp Ltd. $BAP Shares Sold by Hosking Partners LLP

Hosking Partners LLP reduced its stake in shares of Credicorp Ltd. (NYSE:BAP) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,651 shares of the bank’s stock after selling 2,289 shares during the period. Hosking Partners LLP owned approximately 0.10% of Credicorp worth $21,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Credicorp during the 2nd quarter valued at approximately $110,945,000. Bank of America Corp DE grew its position in Credicorp by 125.5% during the second quarter. Bank of America Corp DE now owns 491,046 shares of the bank’s stock valued at $109,759,000 after buying an additional 273,305 shares during the period. Altrinsic Global Advisors LLC increased its holdings in Credicorp by 125.8% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 474,565 shares of the bank’s stock worth $106,075,000 after acquiring an additional 264,358 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Credicorp by 67.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 528,259 shares of the bank’s stock worth $118,076,000 after acquiring an additional 213,651 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Credicorp by 654.5% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232,547 shares of the bank’s stock valued at $51,979,000 after acquiring an additional 201,724 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BAP shares. UBS Group lifted their price objective on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen downgraded 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 research note on Monday, December 29th. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.60.

Credicorp Price Performance

Shares of NYSE:BAP opened at $293.93 on Thursday. The company has a market cap of $23.38 billion, a PE ratio of 13.25, a P/E/G ratio of 0.67 and a beta of 0.89. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $299.94. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm has a 50-day simple moving average of $270.24 and a 200 day simple moving average of $255.69.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. On average, sell-side analysts anticipate 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.