Los Angeles Capital Management LLC Increases Stock Position in Credicorp Ltd. $BAP

Los Angeles Capital Management LLC raised its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 33.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,292 shares of the bank’s stock after acquiring an additional 12,386 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Credicorp were worth $11,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC bought a new position in shares of Credicorp during the first quarter valued at $35,000. Cullen Frost Bankers Inc. purchased a new position in Credicorp in the 1st quarter worth about $40,000. First Horizon Advisors Inc. raised its position in Credicorp by 33.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 283 shares of the bank’s stock worth $63,000 after buying an additional 71 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the 1st quarter valued at about $78,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Credicorp during the 1st quarter valued at about $88,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Credicorp from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating and raised their target price for the stock from $225.00 to $255.00 in a report on Friday, September 5th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Credicorp in a research note on Tuesday, October 14th. Wall Street Zen raised Credicorp from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Zacks Research upgraded Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Credicorp Trading Up 0.1%

NYSE:BAP opened at $259.14 on Monday. Credicorp Ltd. has a one year low of $165.51 and a one year high of $280.88. The business has a fifty day moving average price of $261.19 and a 200-day moving average price of $236.60. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. Sell-side analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.