JPMorgan Chase & Co. Reduces Position in Credicorp Ltd. $BAP

JPMorgan Chase & Co. lowered its position in Credicorp Ltd. (NYSE:BAP) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,577,992 shares of the bank’s stock after selling 72,301 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.98% of Credicorp worth $420,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of BAP. Spire Wealth Management purchased a new stake in shares of Credicorp in the third quarter valued at about $42,000. MAI Capital Management increased its position in Credicorp by 5,300.0% in the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after acquiring an additional 159 shares during the period. Raymond James Financial Inc. purchased a new stake in Credicorp during the 2nd quarter valued at approximately $38,000. First Horizon Corp acquired a new stake in Credicorp during the 3rd quarter worth approximately $59,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Credicorp by 37.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Up 3.8%

BAP stock opened at $345.84 on Thursday. 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 company’s 50-day moving average price is $318.21 and its 200 day moving average price is $279.29. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $380.20. The company has a market cap of $27.51 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.76 and a beta of 0.87.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. On average, research analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BAP has been the subject of several analyst reports. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Company 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.