Credicorp Ltd. $BAP Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in Credicorp Ltd. (NYSE:BAP) by 6.7% in the third quarter, Holdings Channel.com reports. The firm owned 102,244 shares of the bank’s stock after acquiring an additional 6,425 shares during the quarter. Russell Investments Group Ltd.’s holdings in Credicorp were worth $27,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Spire Wealth Management purchased a new position in shares of Credicorp in the 3rd quarter worth $42,000. MAI Capital Management increased 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 acquiring an additional 159 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Credicorp during the second quarter worth about $38,000. First Horizon Corp purchased a new position in shares of Credicorp in the 3rd quarter worth about $59,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Credicorp by 37.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Credicorp Stock Performance

Shares of NYSE:BAP opened at $326.07 on Friday. The company has a market cap of $25.94 billion, a P/E ratio of 13.41, a PEG ratio of 0.76 and a beta of 0.87. 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 business’s 50-day simple moving average is $336.52 and its 200 day simple moving average is $289.48.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. On average, sell-side analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Credicorp 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.