NewEdge Wealth LLC acquired a new position in shares of Credicorp Ltd. (NYSE:BAP – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 2,291 shares of the bank’s stock, valued at approximately $893,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. TD Asset Management Inc raised its holdings in shares of Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after buying an additional 29 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Credicorp by 21.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after acquiring an additional 32 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after acquiring an additional 42 shares during the period. Fiduciary Trust Co boosted its holdings in Credicorp by 1.8% in the 3rd quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after acquiring an additional 50 shares during the period. Finally, CWM LLC grew its position in Credicorp by 16.2% in the fourth quarter. CWM LLC now owns 394 shares of the bank’s stock valued at $113,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Analyst Ratings Changes
BAP has been the topic of several analyst reports. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group upped their price objective on Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a report on Monday, June 15th. Finally, Weiss Ratings upgraded Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $418.40.
Insider Buying and Selling
In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on Friday, June 5th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.90% of the stock is currently owned by insiders.
Credicorp Stock Up 2.2%
Shares of NYSE:BAP opened at $378.51 on Friday. The company’s fifty day moving average is $385.34 and its two-hundred day moving average is $354.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.00. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90.
Credicorp (NYSE:BAP – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating the consensus estimate of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Equities analysts anticipate that Credicorp Ltd. will post 29.41 EPS for the current year.
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.
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