Hsbc Holdings PLC Acquires 157,711 Shares of Credicorp Ltd. $BAP

Hsbc Holdings PLC boosted its holdings in Credicorp Ltd. (NYSE:BAP) by 905.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 175,121 shares of the bank’s stock after acquiring an additional 157,711 shares during the period. Hsbc Holdings PLC’s holdings in Credicorp were worth $59,315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in shares of Credicorp during the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the second quarter valued at approximately $38,000. Kestra Advisory Services LLC bought a new stake in shares of Credicorp in the fourth quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credicorp during the fourth quarter worth approximately $46,000. Finally, Quarry LP acquired a new stake in Credicorp during the third quarter worth approximately $46,000. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.90% of the company’s stock.

Credicorp Stock Up 0.3%

Shares of BAP opened at $391.64 on Monday. Credicorp Ltd. has a one year low of $224.94 and a one year high of $403.30. The company has a market cap of $36.96 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $360.14 and a two-hundred day simple moving average of $342.70.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. UBS Group raised 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. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and an average price target of $384.33.

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.