Voloridge Investment Management LLC Acquires New Shares in Credicorp Ltd. (NYSE:BAP)

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Voloridge Investment Management LLC acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) in the third quarter, HoldingsChannel.com reports. The firm acquired 13,679 shares of the bank’s stock, valued at approximately $2,851,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banco de Sabadell S.A lifted its stake in Credicorp by 21.5% in the third quarter. Banco de Sabadell S.A now owns 4,187 shares of the bank’s stock valued at $884,000 after buying an additional 740 shares during the last quarter. Barclays PLC increased its holdings in shares of Credicorp by 2.9% in the 3rd quarter. Barclays PLC now owns 42,052 shares of the bank’s stock worth $8,765,000 after acquiring an additional 1,183 shares during the period. Pictet Asset Management Ltd. increased its holdings in shares of Credicorp by 1.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 110,831 shares of the bank’s stock worth $23,102,000 after acquiring an additional 1,700 shares during the period. Generation Investment Management LLP increased its holdings in shares of Credicorp by 7.0% in the 3rd quarter. Generation Investment Management LLP now owns 1,359,317 shares of the bank’s stock worth $283,336,000 after acquiring an additional 88,972 shares during the period. Finally, Dean Capital Investments Management LLC lifted its position in Credicorp by 27.4% in the 3rd quarter. Dean Capital Investments Management LLC now owns 1,226 shares of the bank’s stock valued at $256,000 after purchasing an additional 264 shares during the last quarter. 67.12% of the stock is currently owned by hedge funds and other institutional investors.

In other Credicorp news, insider Abotomey Darryl sold 105,790 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $7.21, for a total transaction of $762,745.90. Corporate insiders own 15.90% of the company’s stock.

A number of research analysts have issued reports on BAP shares. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the company from $245.00 to $250.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of Credicorp from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. ValuEngine upgraded shares of Credicorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Zacks Investment Research raised Credicorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Finally, Bank of America upgraded Credicorp from an “underperform” rating to a “buy” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $254.00.

NYSE:BAP opened at $211.58 on Tuesday. Credicorp Ltd. has a 1 year low of $199.83 and a 1 year high of $252.49. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.07 and a beta of 0.68. The business has a fifty day moving average of $210.22 and a 200-day moving average of $216.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.12 and a current ratio of 1.12.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 7th. The bank reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.25 by ($0.16). Credicorp had a net margin of 24.52% and a return on equity of 16.30%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. On average, equities research analysts predict that Credicorp Ltd. will post 16.46 EPS for the current year.

The business also recently announced a dividend, which was paid on Friday, November 22nd. Investors of record on Wednesday, October 23rd were given a $8.00 dividend. The ex-dividend date of this dividend was Monday, October 21st. Credicorp’s dividend payout ratio is presently 40.79%.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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Want to see what other hedge funds are holding BAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credicorp Ltd. (NYSE:BAP).

Institutional Ownership by Quarter for Credicorp (NYSE:BAP)

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