Sanctuary Advisors LLC Acquires New Holdings in Credicorp Ltd. $BAP

Sanctuary Advisors LLC bought a new stake in Credicorp Ltd. (NYSE:BAP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,595 shares of the bank’s stock, valued at approximately $1,790,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. TD Asset Management Inc increased its holdings in shares of Credicorp by 1.6% during the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after buying an additional 29 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after acquiring an additional 32 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Credicorp by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after acquiring an additional 42 shares in the last quarter. Fiduciary Trust Co grew its position in Credicorp by 1.8% during the 3rd quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after acquiring an additional 50 shares during the last quarter. Finally, CWM LLC grew its position in Credicorp by 16.2% during the 4th quarter. CWM LLC now owns 394 shares of the bank’s stock worth $113,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

BAP has been the subject of several research reports. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. The Goldman Sachs Group upped their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research note on Monday, June 15th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Finally, UBS Group boosted their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $418.40.

Insider Activity at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

Credicorp Stock Down 0.4%

Shares of BAP opened at $381.74 on Thursday. The company has a market capitalization of $36.03 billion, a PE ratio of 14.14, a PEG ratio of 0.75 and a beta of 0.90. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The stock’s 50-day moving average price is $385.93 and its two-hundred day moving average price is $354.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.31 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. On average, analysts anticipate that Credicorp Ltd. will post 29.41 EPS for the current year.

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.