Cibc World Market Inc. Purchases Shares of 9,169 Credicorp Ltd. $BAP

Cibc World Market Inc. purchased a new stake in Credicorp Ltd. (NYSE:BAP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,169 shares of the bank’s stock, valued at approximately $3,572,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAP. TD Asset Management Inc raised its stake in shares of Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after buying an additional 29 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Credicorp by 21.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after buying an additional 32 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Credicorp by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after buying an additional 42 shares during the last quarter. Fiduciary Trust Co boosted its stake in shares of Credicorp by 1.8% in the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after buying an additional 50 shares during the last quarter. Finally, CWM LLC grew its holdings in Credicorp by 16.2% during the fourth quarter. CWM LLC now owns 394 shares of the bank’s stock worth $113,000 after acquiring an additional 55 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BAP. JPMorgan Chase & Co. cut 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. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. UBS Group raised their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. The Goldman Sachs Group lifted their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $418.40.

Credicorp Trading Down 0.4%

BAP stock opened at $381.74 on Thursday. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market cap of $36.03 billion, a P/E ratio of 14.14, a PEG ratio of 0.75 and a beta of 0.90. The company’s 50-day simple moving average is $385.93 and its 200-day simple moving average is $354.37.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.31 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. As a group, equities analysts forecast that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

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.