Bank of New York Mellon Corp Sells 61,572 Shares of Credicorp Ltd. $BAP

Bank of New York Mellon Corp trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 25.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,844 shares of the bank’s stock after selling 61,572 shares during the period. Bank of New York Mellon Corp owned 0.23% of Credicorp worth $41,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Credicorp during the first quarter worth $77,577,000. Millennium Management LLC lifted its position in Credicorp by 853.1% during the 1st quarter. Millennium Management LLC now owns 319,076 shares of the bank’s stock worth $59,399,000 after buying an additional 285,597 shares in the last quarter. Carrhae Capital LLP grew its holdings in Credicorp by 389.0% during the 1st quarter. Carrhae Capital LLP now owns 198,875 shares of the bank’s stock worth $37,023,000 after acquiring an additional 158,206 shares during the last quarter. Bank of Nova Scotia increased its position in Credicorp by 21.8% in the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank’s stock valued at $161,465,000 after acquiring an additional 155,162 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Credicorp by 27.1% in the first quarter. Northern Trust Corp now owns 557,245 shares of the bank’s stock worth $103,737,000 after acquiring an additional 118,706 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of BAP opened at $262.33 on Thursday. The stock has a market cap of $20.86 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $280.88. The stock’s 50-day moving average price is $261.21 and its two-hundred day moving average price is $237.65. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, beating analysts’ consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. On average, equities analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BAP. Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research note on Friday, September 5th. Citigroup increased their price objective on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Zacks Research upgraded Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. The Goldman Sachs Group upgraded Credicorp from a “sell” rating to a “neutral” rating and raised their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded Credicorp from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $256.20.

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.