Artisan Partners Limited Partnership Sells 19,572 Shares of Credicorp Ltd. $BAP

Artisan Partners Limited Partnership decreased its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 15.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,934 shares of the bank’s stock after selling 19,572 shares during the quarter. Artisan Partners Limited Partnership owned about 0.13% of Credicorp worth $27,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BAP. MAI Capital Management raised its position in shares of Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Credicorp in the second quarter worth about $38,000. Spire Wealth Management bought a new stake in Credicorp during the third quarter worth approximately $42,000. Smartleaf Asset Management LLC raised its position in Credicorp by 37.1% during the second 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 period. Finally, First Horizon Corp purchased a new stake in Credicorp during the third quarter valued at approximately $59,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Down 2.3%

NYSE:BAP opened at $347.17 on Friday. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. The stock has a fifty day simple moving average of $327.96 and a 200-day simple moving average of $284.40. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAP shares. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Wall Street Zen lowered 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 price target on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and a consensus 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.