Calamos Advisors LLC Buys 2,838 Shares of Credicorp Ltd. $BAP

Calamos Advisors LLC increased its stake in Credicorp Ltd. (NYSE:BAP) by 89.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,014 shares of the bank’s stock after purchasing an additional 2,838 shares during the quarter. Calamos Advisors LLC’s holdings in Credicorp were worth $2,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the third quarter worth $35,000. Raymond James Financial Inc. bought a new stake in Credicorp during the second quarter worth $38,000. Kestra Advisory Services LLC acquired a new stake in Credicorp in the fourth quarter valued at $42,000. Quarry LP acquired a new stake in Credicorp in the third quarter valued at $46,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp in the 4th quarter valued at about $46,000. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. UBS Group upped their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $377.00.

Credicorp Price Performance

Shares of NYSE BAP opened at $398.30 on Thursday. The stock has a market capitalization of $37.59 billion, a PE ratio of 15.35, a P/E/G ratio of 0.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day moving average price of $357.59 and a two-hundred day moving average price of $341.31. Credicorp Ltd. has a fifty-two week low of $216.87 and a fifty-two week high of $403.30.

Insider Transactions at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by 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.