SPX Gestao de Recursos Ltda Reduces Stock Holdings in Credicorp Ltd. $BAP

SPX Gestao de Recursos Ltda lessened its stake in shares of Credicorp Ltd. (NYSE:BAP) by 31.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 128,592 shares of the bank’s stock after selling 58,369 shares during the period. Credicorp makes up approximately 2.8% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 12th largest holding. SPX Gestao de Recursos Ltda owned approximately 0.16% of Credicorp worth $34,241,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. MAI Capital Management boosted its stake in Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after buying an additional 159 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth about $38,000. Spire Wealth Management purchased a new position in shares of Credicorp during the 3rd quarter worth about $42,000. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 66 shares during the last quarter. Finally, First Horizon Corp bought a new position in Credicorp during the 3rd quarter valued at about $59,000. 89.81% of the stock is currently owned by institutional investors.

Credicorp Stock Performance

Shares of NYSE:BAP opened at $331.43 on Friday. The firm’s 50 day simple moving average is $332.85 and its 200-day simple moving average is $287.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20. The firm has a market cap of $26.36 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. As a group, equities analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on BAP shares. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. boosted their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. The Goldman Sachs Group upped their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Company 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.