DAVENPORT & Co LLC Grows Stock Holdings in Credicorp Ltd. $BAP

DAVENPORT & Co LLC grew its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,688 shares of the bank’s stock after buying an additional 355 shares during the quarter. DAVENPORT & Co LLC’s holdings in Credicorp were worth $1,271,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its stake in Credicorp by 9.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 225,351 shares of the bank’s stock worth $50,370,000 after buying an additional 19,378 shares during the period. BSW Wealth Partners purchased a new stake in Credicorp during the second quarter worth approximately $204,000. LBP AM SA grew its stake in Credicorp by 2.5% during the second quarter. LBP AM SA now owns 29,440 shares of the bank’s stock worth $6,580,000 after buying an additional 717 shares during the period. Paragon Capital Management Ltd purchased a new stake in Credicorp during the second quarter worth approximately $233,000. Finally, Farther Finance Advisors LLC grew its stake in Credicorp by 193.0% during the second quarter. Farther Finance Advisors LLC now owns 665 shares of the bank’s stock worth $149,000 after buying an additional 438 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BAP. UBS Group boosted their price objective on shares of Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Credicorp from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, HSBC downgraded shares of Credicorp from a “buy” rating to a “hold” rating and upped their target price for the company from $225.00 to $255.00 in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

Credicorp Trading Down 2.5%

BAP opened at $254.58 on Friday. The stock has a market capitalization of $20.25 billion, a PE ratio of 12.07, a P/E/G ratio of 0.71 and a beta of 1.11. The firm’s fifty day moving average price is $258.39 and its 200 day moving average price is $225.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $280.88.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.51. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. As a group, research analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.