Convergence Financial LLC Buys New Position in Credicorp Ltd. $BAP

Convergence Financial LLC bought a new stake in Credicorp Ltd. (NYSE:BAP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,746 shares of the bank’s stock, valued at approximately $788,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors acquired a new position in Credicorp in the third quarter valued at approximately $434,014,000. Norges Bank acquired a new position in Credicorp in the fourth quarter valued at approximately $150,814,000. William Blair Investment Management LLC lifted its stake in Credicorp by 71.6% in the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock valued at $218,369,000 after buying an additional 342,308 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in Credicorp in the fourth quarter valued at approximately $89,754,000. Finally, Mondrian Investment Partners LTD acquired a new position in Credicorp in the third quarter valued at approximately $78,211,000. 89.81% of the stock is currently owned by institutional investors.

Credicorp Price Performance

Shares of NYSE:BAP opened at $326.27 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp Ltd. has a twelve month low of $209.46 and a twelve month high of $380.20. The stock’s 50 day moving average is $332.77 and its 200-day moving average is $319.25. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.71 and a beta of 0.89.

Credicorp (NYSE:BAP) last issued its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%.The company had revenue of $1.81 billion for the quarter. Sell-side analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BAP. JPMorgan Chase & Co. boosted their price target on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. UBS Group boosted their price target on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $356.40.

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.