Credicorp Ltd. $BAP Stock Sold by Matthews International Capital Management LLC

Matthews International Capital Management LLC trimmed its stake in shares of Credicorp Ltd. (NYSE:BAP) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,702 shares of the bank’s stock after selling 3,115 shares during the quarter. Credicorp comprises 1.5% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. Matthews International Capital Management LLC’s holdings in Credicorp were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of BAP. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Credicorp during the second quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Credicorp during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Credicorp in the 2nd quarter valued at $27,000. GAMMA Investing LLC grew its position in Credicorp by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 111 shares of the bank’s stock valued at $42,000 after buying an additional 28 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Credicorp in the 1st quarter valued at $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Price Performance

Shares of NYSE BAP opened at $367.94 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $375.75 and its 200 day moving average price is $360.16. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24. The stock has a market cap of $34.73 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.69 and a beta of 0.89.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Monday, November 9th. The bank reported $7.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.25 by ($0.19). The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Credicorp had a net margin of 25.26% and a return on equity of 19.49%. As a group, research analysts forecast that Credicorp Ltd. will post 29.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on BAP shares. JPMorgan Chase & Co. raised shares of Credicorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $453.00 to $482.00 in a research note on Wednesday, September 16th. UBS Group lifted their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a report on Thursday, August 20th. The Goldman Sachs Group boosted their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, November 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and an average target price of $431.80.

About Credicorp

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services. Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.