ARGA Investment Management LP Buys 8,758 Shares of Credicorp Ltd. $BAP

ARGA Investment Management LP grew its stake in shares of Credicorp Ltd. (NYSE:BAP) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 698,267 shares of the bank’s stock after acquiring an additional 8,758 shares during the quarter. Credicorp makes up about 4.9% of ARGA Investment Management LP’s portfolio, making the stock its 9th biggest position. ARGA Investment Management LP’s holdings in Credicorp were worth $185,935,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Credicorp during the 1st quarter worth about $78,000. Farther Finance Advisors LLC increased its position in shares of Credicorp by 193.0% in the second quarter. Farther Finance Advisors LLC now owns 665 shares of the bank’s stock worth $149,000 after acquiring an additional 438 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of Credicorp during the second quarter valued at approximately $233,000. LBP AM SA raised its holdings in shares of Credicorp by 2.5% during the second quarter. LBP AM SA now owns 29,440 shares of the bank’s stock valued at $6,580,000 after acquiring an additional 717 shares during the period. Finally, BSW Wealth Partners purchased a new stake in shares of Credicorp in the second quarter valued at $204,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BAP. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their price target on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Price Performance

NYSE:BAP opened at $344.05 on Friday. Credicorp Ltd. has a one year low of $165.51 and a one year high of $344.50. The stock has a market cap of $27.37 billion, a P/E ratio of 15.50, a PEG ratio of 0.76 and a beta of 0.89. The company has a fifty day moving average price of $285.17 and a 200 day moving average price of $263.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current 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.