DNB Asset Management AS Purchases 5,462 Shares of Credicorp Ltd. $BAP

DNB Asset Management AS increased its holdings in Credicorp Ltd. (NYSE:BAP) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,199 shares of the bank’s stock after purchasing an additional 5,462 shares during the period. DNB Asset Management AS’s holdings in Credicorp were worth $5,645,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Credicorp in the 1st quarter worth $78,000. Assetmark Inc. raised its holdings in Credicorp by 14.1% during the 2nd quarter. Assetmark Inc. now owns 19,823 shares of the bank’s stock valued at $4,431,000 after buying an additional 2,454 shares during the period. Carrhae Capital LLP raised its stake in shares of Credicorp by 7.5% in the second quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after acquiring an additional 14,931 shares during the period. First Horizon Advisors Inc. grew its holdings in Credicorp by 33.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 283 shares of the bank’s stock valued at $63,000 after purchasing an additional 71 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in Credicorp by 7.7% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 19,391 shares of the bank’s stock worth $4,335,000 after purchasing an additional 1,378 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Down 2.3%

Shares of NYSE BAP opened at $347.17 on Monday. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $380.20. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.79 and a beta of 0.88. The stock has a 50 day moving average price of $327.96 and a 200 day moving average price of $284.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp (NYSE:BAP) last issued its earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.77 billion. Sell-side analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on BAP. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. upped their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group lifted 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. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $297.60.

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.