Public Sector Pension Investment Board Trims Stake in Credicorp Ltd. $BAP

Public Sector Pension Investment Board cut its stake in Credicorp Ltd. (NYSE:BAP) by 62.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,283 shares of the bank’s stock after selling 118,300 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.09% of Credicorp worth $18,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAP. LSV Asset Management lifted its stake in shares of Credicorp by 11.6% in the 3rd quarter. LSV Asset Management now owns 86,500 shares of the bank’s stock valued at $23,033,000 after purchasing an additional 8,983 shares during the period. Rhumbline Advisers increased its holdings in Credicorp by 0.4% in the third quarter. Rhumbline Advisers now owns 14,412 shares of the bank’s stock valued at $3,838,000 after buying an additional 59 shares in the last quarter. MQS Management LLC raised its position in shares of Credicorp by 85.4% in the third quarter. MQS Management LLC now owns 1,728 shares of the bank’s stock worth $460,000 after acquiring an additional 796 shares during the period. Candriam S.C.A. boosted its stake in shares of Credicorp by 146.3% during the 3rd quarter. Candriam S.C.A. now owns 168,390 shares of the bank’s stock worth $44,839,000 after acquiring an additional 100,030 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Credicorp by 159.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 633 shares of the bank’s stock worth $169,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BAP. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. boosted their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.20.

Credicorp Stock Performance

NYSE BAP opened at $329.36 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $314.46 and its 200-day simple moving average is $277.17. The company has a market cap of $26.20 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.87. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $380.20.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, February 12th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). The firm had revenue of $1.78 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, equities research analysts anticipate that Credicorp Ltd. will post 21.9 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.