North of South Capital LLP Reduces Stock Position in Credicorp Ltd. $BAP

North of South Capital LLP trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 51.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the bank’s stock after selling 4,256 shares during the quarter. Credicorp makes up 0.1% of North of South Capital LLP’s holdings, making the stock its 19th biggest holding. North of South Capital LLP’s holdings in Credicorp were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management increased its stake in 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 acquiring an additional 159 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter valued at approximately $38,000. Spire Wealth Management purchased a new position in shares of Credicorp in the 3rd quarter worth approximately $42,000. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 66 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Credicorp during the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. UBS Group upped their price target on shares of Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.60.

Credicorp Price Performance

NYSE BAP opened at $307.29 on Tuesday. The company has a market cap of $24.44 billion, a PE ratio of 13.85, a P/E/G ratio of 0.68 and a beta of 0.89. The firm’s 50 day moving average price is $272.89 and its 200-day moving average price is $257.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $307.57.

Credicorp (NYSE:BAP) last posted its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. Sell-side 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.