Bank of New York Mellon Corp Sells 11,104 Shares of Credicorp Ltd. $BAP

Bank of New York Mellon Corp lessened its holdings in Credicorp Ltd. (NYSE:BAP) by 6.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 151,709 shares of the bank’s stock after selling 11,104 shares during the quarter. Bank of New York Mellon Corp’s holdings in Credicorp were worth $51,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BAP. Sanctuary Advisors LLC increased its position in shares of Credicorp by 2.0% during the first quarter. Sanctuary Advisors LLC now owns 4,313 shares of the bank’s stock valued at $1,463,000 after acquiring an additional 85 shares during the last quarter. Calamos Advisors LLC lifted its holdings in Credicorp by 89.4% during the first quarter. Calamos Advisors LLC now owns 6,014 shares of the bank’s stock worth $2,040,000 after acquiring an additional 2,838 shares during the period. Matthews International Capital Management LLC purchased a new position in Credicorp in the first quarter worth $4,355,000. LGT Fund Management Co Ltd. purchased a new position in Credicorp in the first quarter worth $1,825,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Credicorp by 2,670.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,336 shares of the bank’s stock valued at $10,968,000 after purchasing an additional 31,169 shares during the period. 89.81% of the stock is owned by institutional investors.

Credicorp Stock Down 1.3%

Credicorp stock opened at $388.51 on Friday. Credicorp Ltd. has a 1-year low of $230.25 and a 1-year high of $403.30. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.86 and a beta of 0.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $365.49 and a 200 day simple moving average of $345.61.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BAP has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. UBS Group boosted their price target on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and an average target price of $384.33.

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.