Los Angeles Capital Management LLC Grows Stock Holdings in Credicorp Ltd. $BAP

Los Angeles Capital Management LLC grew its stake in shares of Credicorp Ltd. (NYSE:BAP) by 33.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,292 shares of the bank’s stock after acquiring an additional 12,386 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Credicorp worth $11,018,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Carrhae Capital LLP boosted its holdings in Credicorp by 7.5% in the 2nd quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after purchasing an additional 14,931 shares during the period. Cerity Partners LLC increased its holdings in shares of Credicorp by 37.1% in the first quarter. Cerity Partners LLC now owns 5,545 shares of the bank’s stock worth $1,032,000 after purchasing an additional 1,500 shares during the period. Inspire Investing LLC bought a new stake in Credicorp during the first quarter valued at $744,000. Assetmark Inc. boosted its stake in Credicorp by 14.1% during the second 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. Finally, Paragon Capital Management Ltd purchased a new position in Credicorp during the second quarter worth about $233,000. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

Shares of BAP opened at $259.14 on Monday. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $280.88. The firm’s 50-day simple moving average is $261.19 and its two-hundred day simple moving average is $236.60. The stock has a market cap of $20.61 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08.

Credicorp (NYSE:BAP) last released its 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 during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. Analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BAP. Citigroup boosted their price target on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating and lifted their price target for the company from $225.00 to $255.00 in a report on Friday, September 5th. Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research report on Friday, September 5th. The Goldman Sachs Group raised shares of Credicorp from a “sell” rating to a “neutral” rating and raised their target price for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Credicorp in a research note on Tuesday, October 14th. One equities 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 company. Based on data from MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

About Credicorp

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.