Credicorp Ltd. $BAP Shares Bought by BIT Capital GmbH

BIT Capital GmbH increased its stake in Credicorp Ltd. (NYSE:BAP) by 18.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,539 shares of the bank’s stock after purchasing an additional 1,763 shares during the quarter. BIT Capital GmbH’s holdings in Credicorp were worth $3,073,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Credicorp Stock Up 0.8%

Credicorp stock opened at $348.76 on Friday. The firm has a market capitalization of $27.74 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.78 and a beta of 0.87. The company has a 50-day simple moving average of $319.57 and a 200-day simple moving average of $279.77. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20. 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 released its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.77 billion. As a group, equities analysts expect 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.