Norges Bank Makes New Investment in Credicorp Ltd. $BAP

Norges Bank purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 525,485 shares of the bank’s stock, valued at approximately $150,814,000. Norges Bank owned about 0.66% of Credicorp as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the 3rd quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Credicorp during the 4th quarter worth approximately $46,000. Raymond James Financial Inc. acquired a new position in Credicorp during the 2nd quarter worth approximately $38,000. Quarry LP acquired a new position in Credicorp during the 3rd quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC boosted its position in Credicorp by 44.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 188 shares of the bank’s stock worth $54,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.90% of the company’s stock.

Credicorp Trading Down 4.4%

NYSE BAP opened at $328.74 on Thursday. The company has a market cap of $31.03 billion, a PE ratio of 12.67, a PEG ratio of 0.75 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a 12 month low of $209.46 and a 12 month high of $380.20. The stock has a 50 day moving average of $332.85 and a 200-day moving average of $318.75.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. On average, equities research analysts anticipate that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on BAP. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group increased their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. increased their price objective on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $356.40.

About Credicorp

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.