Handelsbanken Fonder AB Boosts Stock Holdings in Credicorp Ltd. $BAP

Handelsbanken Fonder AB raised its position in shares of Credicorp Ltd. (NYSE:BAP) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,916 shares of the bank’s stock after acquiring an additional 8,621 shares during the quarter. Handelsbanken Fonder AB’s holdings in Credicorp were worth $83,323,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BAP. Spire Wealth Management acquired a new position in Credicorp in the 3rd quarter valued at $42,000. MAI Capital Management raised its position in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Credicorp in the second quarter worth about $38,000. First Horizon Corp acquired a new position in Credicorp during the third quarter worth about $59,000. Finally, Smartleaf Asset Management LLC grew its stake in Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Price Performance

BAP stock opened at $355.12 on Friday. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $380.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.87. The business has a fifty day moving average of $326.72 and a two-hundred day moving average of $283.49.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. As a group, research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Credicorp Profile

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.