Credicorp Ltd. $BAP Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Credicorp Ltd. (NYSE:BAP) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 568,889 shares of the bank’s stock after acquiring an additional 37,993 shares during the quarter. Geode Capital Management LLC’s holdings in Credicorp were worth $162,147,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BAP. Capital World Investors acquired a new position in Credicorp during the third quarter worth $434,014,000. William Blair Investment Management LLC lifted its stake in Credicorp by 71.6% during the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock worth $218,369,000 after purchasing an additional 342,308 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Credicorp during the fourth quarter worth $89,754,000. Mondrian Investment Partners LTD acquired a new position in Credicorp during the third quarter worth $78,211,000. Finally, Invesco Ltd. lifted its stake in Credicorp by 27.4% during the third quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after purchasing an additional 290,585 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BAP shares. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. increased their price objective on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group increased their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $356.40.

Credicorp Stock Down 4.4%

Shares of NYSE BAP opened at $328.74 on Thursday. The stock has a market cap of $31.03 billion, a P/E ratio of 12.67, a PEG ratio of 0.75 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 12-month low of $209.46 and a 12-month high of $380.20. The business’s fifty day simple moving average is $332.85 and its 200-day simple moving average is $318.75.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. As a group, equities analysts predict that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by company insiders.

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.