Credicorp Ltd. $BAP Shares Purchased by INCA Investments LLC

INCA Investments LLC lifted its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,050 shares of the bank’s stock after purchasing an additional 22,103 shares during the quarter. Credicorp accounts for about 26.5% of INCA Investments LLC’s portfolio, making the stock its biggest position. INCA Investments LLC owned about 0.27% of Credicorp worth $57,530,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on BAP. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. The Goldman Sachs Group raised their price target on shares of Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Trading Up 3.1%

Shares of Credicorp stock opened at $368.02 on Tuesday. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $368.78. The stock has a market cap of $29.27 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.79 and a beta of 0.87. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $298.09 and its 200-day moving average is $269.92.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Equities research analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

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.