Geode Capital Management LLC Boosts Stock Position in Credicorp Ltd. $BAP

Geode Capital Management LLC grew its stake in Credicorp Ltd. (NYSE:BAP) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 568,889 shares of the bank’s stock after purchasing an additional 37,993 shares during the period. Geode Capital Management LLC owned approximately 0.72% of Credicorp worth $162,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Employees Retirement System of Texas grew its position in shares of Credicorp by 4.7% in the fourth quarter. Employees Retirement System of Texas now owns 5,704 shares of the bank’s stock valued at $1,637,000 after purchasing an additional 255 shares in the last quarter. Summitry LLC grew its position in shares of Credicorp by 13.9% in the fourth quarter. Summitry LLC now owns 1,331 shares of the bank’s stock valued at $382,000 after purchasing an additional 162 shares in the last quarter. Legal & General Group Plc grew its position in shares of Credicorp by 5.6% in the fourth quarter. Legal & General Group Plc now owns 586,488 shares of the bank’s stock valued at $168,322,000 after purchasing an additional 30,866 shares in the last quarter. Swedbank AB grew its position in shares of Credicorp by 33.3% in the fourth quarter. Swedbank AB now owns 56,602 shares of the bank’s stock valued at $16,245,000 after purchasing an additional 14,142 shares in the last quarter. Finally, Guinness Asset Management LTD grew its position in shares of Credicorp by 19.3% in the fourth quarter. Guinness Asset Management LTD now owns 2,095 shares of the bank’s stock valued at $610,000 after purchasing an additional 339 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Trading Down 4.4%

BAP opened at $328.74 on Thursday. Credicorp Ltd. has a one year low of $209.46 and a one year high of $380.20. The stock has a market capitalization of $31.03 billion, a PE ratio of 12.67, a P/E/G ratio of 0.75 and a beta of 0.89. The business’s 50 day moving average price is $332.85 and its 200 day moving average price is $318.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%.The firm had revenue of $1.81 billion for the quarter. As a group, equities research analysts expect that Credicorp Ltd. will post 29.61 EPS for the current year.

Insider Buying and Selling

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction 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 in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BAP shares. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. The Goldman Sachs Group upped their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. UBS Group upped their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.