Franklin Resources Inc. reduced its position in Credicorp Ltd. (NYSE:BAP) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 229,556 shares of the bank’s stock after selling 4,049 shares during the period. Franklin Resources Inc. owned about 0.29% of Credicorp worth $51,209,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in Credicorp in the 2nd quarter worth approximately $157,000. American International Group Inc. purchased a new stake in Credicorp in the 3rd quarter worth approximately $260,000. Atria Investments LLC purchased a new stake in Credicorp in the 3rd quarter worth approximately $272,000. Victory Capital Management Inc. purchased a new stake in Credicorp in the 2nd quarter worth approximately $279,000. Finally, Fulton Bank N.A. purchased a new stake in Credicorp in the 3rd quarter worth approximately $403,000. 66.36% of the stock is owned by hedge funds and other institutional investors.
BAP has been the subject of several recent analyst reports. UBS Group raised shares of Credicorp from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Itau BBA Securities raised shares of Credicorp from a “market perform” rating to an “outperform” rating and set a $274.00 target price for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $259.33.
Shares of BAP opened at $220.68 on Friday. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.31 and a beta of 0.81. Credicorp Ltd. has a fifty-two week low of $189.69 and a fifty-two week high of $239.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85.
Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, November 8th. The bank reported $3.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.00 by ($0.15). The company had revenue of $982.21 million during the quarter. Credicorp had a net margin of 25.82% and a return on equity of 18.21%. Sell-side analysts forecast that Credicorp Ltd. will post 15.77 earnings per share for the current fiscal year.
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Credicorp Company Profile
Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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