Credicorp Ltd. $BAP Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of Credicorp Ltd. (NYSE:BAP) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,386 shares of the bank’s stock after selling 6,969 shares during the period. Van ECK Associates Corp’s holdings in Credicorp were worth $16,080,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MAI Capital Management grew its holdings in Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Credicorp in the 2nd quarter valued at $38,000. Spire Wealth Management acquired a new position in shares of Credicorp in the 3rd quarter valued at $42,000. Smartleaf Asset Management LLC grew 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 period. Finally, First Horizon Corp purchased a new stake in shares of Credicorp during the 3rd quarter valued at $59,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group boosted 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. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.60.

Credicorp Stock Up 1.4%

Shares of NYSE:BAP traded up $4.40 during midday trading on Friday, hitting $329.60. 59,235 shares of the company’s stock traded hands, compared to its average volume of 520,602. The firm’s fifty day moving average price is $336.52 and its two-hundred day moving average price is $289.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a market cap of $26.22 billion, a PE ratio of 13.56, a P/E/G ratio of 0.76 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 the consensus estimate of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. On average, equities research analysts anticipate 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.