Wasatch Advisors LP Has $1.82 Million Stock Position in Credicorp Ltd. $BAP

Wasatch Advisors LP boosted its stake in Credicorp Ltd. (NYSE:BAP) by 126.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,361 shares of the bank’s stock after acquiring an additional 2,998 shares during the period. Wasatch Advisors LP’s holdings in Credicorp were worth $1,818,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

BAP has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a research report on Monday, June 15th. UBS Group boosted their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.00.

Credicorp Price Performance

Shares of NYSE:BAP opened at $384.22 on Friday. Credicorp Ltd. has a twelve month low of $216.87 and a twelve month high of $398.52. The stock’s 50 day moving average is $341.08 and its 200-day moving average is $330.98. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $36.26 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.83 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. Sell-side analysts forecast that Credicorp Ltd. will post 29.52 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.