Kepler Cheuvreux Suisse SA Buys New Position in Credicorp Ltd. $BAP

Kepler Cheuvreux Suisse SA bought a new stake in Credicorp Ltd. (NYSE:BAP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,311 shares of the bank’s stock, valued at approximately $9,672,000.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Credicorp by 42.2% in the third quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock valued at $77,534,000 after purchasing an additional 86,340 shares during the period. Nordea Investment Management AB lifted its position in Credicorp by 17.4% during the third quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after buying an additional 4,140 shares during the period. Summitry LLC purchased a new position in Credicorp during the second quarter worth about $257,000. Asset Management One Co. Ltd. boosted its stake in Credicorp by 19.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock worth $3,333,000 after buying an additional 2,023 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Credicorp by 25.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock worth $77,551,000 after buying an additional 58,690 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BAP shares. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Wall Street Zen downgraded shares of 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 report on Monday, December 29th. Finally, The Goldman Sachs Group increased their price target on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Stock Performance

Shares of NYSE:BAP opened at $341.17 on Wednesday. The firm has a market capitalization of $27.14 billion, a PE ratio of 14.03, a P/E/G ratio of 0.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. The business has a 50-day moving average of $334.67 and a two-hundred day moving average of $288.88. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $380.20.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. As a group, research analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current year.

About Credicorp

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.