Swiss National Bank Lowers Position in Credicorp Ltd. $BAP

Swiss National Bank trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,439 shares of the bank’s stock after selling 17,080 shares during the quarter. Swiss National Bank owned 0.14% of Credicorp worth $44,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the third quarter worth about $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp in the 2nd quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Credicorp in the 1st quarter valued at approximately $40,000. Kestra Advisory Services LLC acquired a new position in shares of Credicorp in the 4th quarter worth approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credicorp in the 4th quarter worth approximately $46,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Price Performance

Shares of BAP opened at $393.83 on Thursday. The company has a market cap of $37.17 billion, a P/E ratio of 15.18, a PEG ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a fifty-two week low of $230.25 and a fifty-two week high of $403.30. 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’s 50 day moving average price is $364.28 and its 200 day moving average price is $344.89.

Insider Buying and Selling

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was 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 of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated 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. 15.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BAP. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a research report on Monday, June 15th. The Goldman Sachs Group lifted their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $384.33.

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.