WCM Investment Management LLC Sells 11,682 Shares of Credicorp Ltd. $BAP

WCM Investment Management LLC cut its holdings in Credicorp Ltd. (NYSE:BAP) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 257,494 shares of the bank’s stock after selling 11,682 shares during the quarter. WCM Investment Management LLC’s holdings in Credicorp were worth $68,872,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BAP. Spire Wealth Management acquired a new position in shares of Credicorp in the 3rd quarter valued at $42,000. MAI Capital Management increased its stake in shares of Credicorp by 5,300.0% in the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after acquiring an additional 159 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the 2nd quarter valued at approximately $38,000. First Horizon Corp bought a new position in Credicorp during the 3rd quarter worth approximately $59,000. Finally, Smartleaf Asset Management LLC boosted its stake in Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Trading Up 3.1%

Shares of NYSE:BAP opened at $368.02 on Tuesday. The firm has a market cap of $29.27 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.79 and a beta of 0.87. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $368.78. The company’s fifty day simple moving average is $298.09 and its 200 day simple moving average is $269.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. As a group, research analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BAP has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. The Goldman Sachs Group raised their price objective on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.20.

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.