New York State Common Retirement Fund Purchases 15,054 Shares of Credicorp Ltd. $BAP

New York State Common Retirement Fund boosted its stake in Credicorp Ltd. (NYSE:BAP) by 23.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,473 shares of the bank’s stock after purchasing an additional 15,054 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Credicorp worth $21,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAP. MAI Capital Management increased its holdings in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after buying an additional 159 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the second quarter valued at about $38,000. Spire Wealth Management purchased a new position in shares of Credicorp during the 3rd quarter worth approximately $42,000. Smartleaf Asset Management LLC grew its stake in Credicorp by 37.1% in the second 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. Finally, First Horizon Corp bought a new position in shares of Credicorp in the 3rd quarter worth about $59,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Down 2.4%

Shares of NYSE BAP opened at $356.60 on Friday. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $365.42. The firm has a market capitalization of $28.36 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.82 and a beta of 0.89. The stock has a 50 day moving average price of $295.78 and a 200 day moving average price of $268.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Sell-side analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analysts Set New Price Targets

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

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.