Candriam S.C.A. Acquires 100,030 Shares of Credicorp Ltd. $BAP

Candriam S.C.A. boosted its stake in Credicorp Ltd. (NYSE:BAP) by 146.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 168,390 shares of the bank’s stock after purchasing an additional 100,030 shares during the quarter. Candriam S.C.A.’s holdings in Credicorp were worth $44,839,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Credicorp by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after purchasing an additional 223,497 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Credicorp by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock worth $368,873,000 after buying an additional 67,249 shares during the period. State Street Corp boosted its position in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after acquiring an additional 19,361 shares in the last quarter. Bank of Nova Scotia boosted its position in Credicorp by 17.1% during the 2nd quarter. Bank of Nova Scotia now owns 1,015,409 shares of the bank’s stock valued at $226,964,000 after acquiring an additional 148,062 shares in the last quarter. Finally, ARGA Investment Management LP grew its holdings in shares of Credicorp by 1.3% during the 3rd quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock worth $185,935,000 after acquiring an additional 8,758 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Credicorp Stock Down 0.8%

Shares of NYSE:BAP opened at $353.58 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $306.66 and a two-hundred day simple moving average of $273.65. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.78 and a beta of 0.87.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, beating the consensus estimate of $6.05 by $0.12. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. Credicorp had a return on equity of 19.50% and a net margin of 23.59%. On average, research analysts anticipate 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.