28,200 Shares in Credicorp Ltd. $BAP Purchased by Korea Investment CORP

Korea Investment CORP acquired a new position in Credicorp Ltd. (NYSE:BAP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,200 shares of the bank’s stock, valued at approximately $10,986,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Credicorp in the 2nd quarter valued at approximately $1,933,666,000. Capital World Investors grew its stake in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after purchasing an additional 565,490 shares during the period. Royal Bank of Canada raised its holdings in Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after purchasing an additional 13,249 shares in the last quarter. Invesco Ltd. raised its holdings in Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after purchasing an additional 31,383 shares in the last quarter. Finally, State Street Corp lifted its position in Credicorp by 5.5% during the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after buying an additional 69,329 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is owned by company insiders.

Credicorp Stock Performance

Shares of BAP stock opened at $380.03 on Tuesday. The company has a market capitalization of $35.87 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company’s 50-day moving average is $385.70 and its 200 day moving average is $354.05.

Credicorp (NYSE:BAP) last issued its earnings results on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. Sell-side analysts expect that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and raised their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $418.40.

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.