Teacher Retirement System of Texas Boosts Stake in Credicorp Ltd. $BAP

Teacher Retirement System of Texas lifted its stake in shares of Credicorp Ltd. (NYSE:BAP) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,075 shares of the bank’s stock after buying an additional 1,556 shares during the period. Teacher Retirement System of Texas owned approximately 0.28% of Credicorp worth $59,134,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. MAI Capital Management raised its stake in Credicorp by 5,300.0% in the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after acquiring an additional 159 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Credicorp in the second quarter valued at approximately $38,000. Spire Wealth Management acquired a new position in Credicorp in the 3rd quarter worth approximately $42,000. Smartleaf Asset Management LLC raised its position in Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after buying an additional 66 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Credicorp during the 3rd quarter valued at approximately $59,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Performance

NYSE BAP opened at $340.31 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $283.39 and its 200-day simple moving average is $262.80. The company has a market cap of $27.07 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $341.55.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BAP. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. The Goldman Sachs Group upped their target price on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. lifted their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $290.20.

Credicorp 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.