Caisse de depot et placement du Quebec Makes New Investment in Credicorp Ltd. $BAP

Caisse de depot et placement du Quebec acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 54,759 shares of the bank’s stock, valued at approximately $21,333,000.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the first quarter valued at about $78,000. Cetera Investment Advisers lifted its position in shares of Credicorp by 36.3% in the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after acquiring an additional 476 shares during the period. State Street Corp lifted its position in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after acquiring an additional 19,361 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Credicorp during the 2nd quarter worth approximately $355,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAP. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. The Goldman Sachs Group boosted their price target on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings lowered shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, August 20th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research note on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $418.40.

Insider Activity at Credicorp

In other 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 value of $1,116,500.00. Following the sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Credicorp Price Performance

Shares of BAP stock opened at $369.53 on Friday. The stock’s fifty day simple moving average is $385.48 and its 200 day simple moving average is $354.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $34.88 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.73 and a beta of 0.90. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

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