Royal Bank of Canada Buys 13,249 Shares of Credicorp Ltd. $BAP

Royal Bank of Canada increased its stake in shares of Credicorp Ltd. (NYSE:BAP) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,721,926 shares of the bank’s stock after purchasing an additional 13,249 shares during the quarter. Royal Bank of Canada’s holdings in Credicorp were worth $584,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp in the 1st quarter valued at approximately $78,000. Cetera Investment Advisers boosted its position in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after buying an additional 476 shares during the period. State Street Corp grew its holdings in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after acquiring an additional 19,361 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Credicorp during the 2nd quarter worth approximately $355,000. Finally, Quantinno Capital Management LP increased its position in Credicorp by 24.7% in the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after acquiring an additional 1,083 shares during the period. Institutional investors own 89.81% of the company’s stock.

Credicorp Trading Down 0.4%

NYSE BAP opened at $389.39 on Wednesday. The stock has a market capitalization of $36.75 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.85 and a beta of 0.88. The business has a 50 day simple moving average of $370.17 and a 200 day simple moving average of $347.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. Credicorp Ltd. has a one year low of $230.45 and a one year high of $403.30.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The shares were 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 of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

BAP has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. The Goldman Sachs Group upped their price target on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. UBS Group raised their price objective on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $384.33.

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.