JPMorgan Chase & Co. Cuts Stock Holdings in Credicorp Ltd. $BAP

JPMorgan Chase & Co. trimmed its stake in shares of Credicorp Ltd. (NYSE:BAP) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,510,245 shares of the bank’s stock after selling 67,747 shares during the period. JPMorgan Chase & Co.’s holdings in Credicorp were worth $433,440,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the third quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credicorp during the fourth quarter valued at $46,000. Raymond James Financial Inc. purchased a new position in Credicorp during the second quarter valued at $38,000. Quarry LP purchased a new position in Credicorp during the third quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC grew its stake in Credicorp by 44.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 188 shares of the bank’s stock valued at $54,000 after acquiring an additional 58 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.90% of the company’s stock.

Credicorp Stock Performance

Shares of NYSE:BAP opened at $352.27 on Thursday. Credicorp Ltd. has a 52 week low of $213.75 and a 52 week high of $380.20. The stock has a market capitalization of $33.25 billion, a P/E ratio of 13.58, a PEG ratio of 0.76 and a beta of 0.89. The firm has a fifty day simple moving average of $333.45 and a two-hundred day simple moving average of $321.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The business had revenue of $1.81 billion during the quarter. On average, analysts expect that Credicorp Ltd. will post 29.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BAP has been the subject of several research analyst reports. UBS Group raised their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group raised their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $350.00 in a research note 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 two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Credicorp has an average rating of “Moderate Buy” and a consensus 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.