William Blair Investment Management LLC Grows Position in Credicorp Ltd. $BAP

William Blair Investment Management LLC lifted its position in Credicorp Ltd. (NYSE:BAP) by 71.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 820,073 shares of the bank’s stock after purchasing an additional 342,308 shares during the period. William Blair Investment Management LLC’s holdings in Credicorp were worth $218,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MAI Capital Management boosted its position 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 period. Raymond James Financial Inc. bought a new position in shares of Credicorp during the second quarter valued at about $38,000. Spire Wealth Management purchased a new stake in shares of Credicorp during the third quarter worth about $42,000. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 66 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Credicorp in the third quarter worth about $59,000. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BAP. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. upped their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $297.60.

Credicorp Trading Down 2.3%

NYSE BAP opened at $347.17 on Friday. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $380.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $327.96 and its 200-day moving average price is $284.40. The stock has a market cap of $27.61 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.79 and a beta of 0.87.

Credicorp (NYSE:BAP) last announced 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. As a group, equities analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal 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.