Handelsbanken Fonder AB Boosts Position in Credicorp Ltd. $BAP

Handelsbanken Fonder AB raised its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 312,916 shares of the bank’s stock after acquiring an additional 8,621 shares during the period. Handelsbanken Fonder AB owned approximately 0.39% of Credicorp worth $83,323,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. MAI Capital Management raised its holdings in shares of Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after purchasing an additional 159 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Credicorp in the second quarter valued at $38,000. Spire Wealth Management acquired a new stake in Credicorp during the 3rd quarter worth about $42,000. Smartleaf Asset Management LLC raised its stake in shares of Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after buying an additional 66 shares during the last quarter. Finally, First Horizon Corp purchased a new position in shares of Credicorp during the 3rd quarter valued at about $59,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on BAP. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Stock Down 0.0%

Credicorp stock opened at $355.12 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $28.25 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.87. The business has a 50 day simple moving average of $326.72 and a 200-day simple moving average of $283.49. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $380.20.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. On average, analysts anticipate that Credicorp Ltd. will post 21.9 EPS 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.