Barings LLC Trims Stock Position in Credicorp Ltd. $BAP

Barings LLC trimmed its stake in Credicorp Ltd. (NYSE:BAP) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,712 shares of the bank’s stock after selling 4,025 shares during the period. Barings LLC’s holdings in Credicorp were worth $8,178,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BAP. Norges Bank bought a new position in Credicorp in the second quarter worth about $110,945,000. Mondrian Investment Partners LTD bought a new stake in Credicorp during the 3rd quarter valued at approximately $78,211,000. Bank of America Corp DE grew its holdings in shares of Credicorp by 125.5% during the 2nd quarter. Bank of America Corp DE now owns 491,046 shares of the bank’s stock worth $109,759,000 after acquiring an additional 273,305 shares during the period. Altrinsic Global Advisors LLC raised its position in shares of Credicorp by 125.8% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 474,565 shares of the bank’s stock worth $106,075,000 after acquiring an additional 264,358 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Credicorp by 7.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock worth $808,985,000 after acquiring an additional 223,497 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

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

Credicorp Stock Performance

Shares of BAP stock opened at $349.88 on Friday. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. 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 Ltd. has a one year low of $165.51 and a one year high of $380.20. The company’s 50-day moving average is $320.92 and its 200 day moving average is $280.52.

Credicorp (NYSE:BAP) last issued its earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.73). Credicorp had a return on equity of 21.54% and a net margin of 24.53%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Sell-side analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal 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.