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

Key Points

• Korea Investment CORP acquired 28,200 Credicorp shares in the second quarter, valued at approximately $10.99 million. Institutional investors collectively own 89.81% of the company.
• Analyst sentiment remains positive, with Credicorp holding a consensus “Moderate Buy” rating and an average price target of $418.40; targets range as high as $480.
• Credicorp exceeded quarterly expectations, reporting $7.33 in earnings per share versus $7.31 estimated and $1.96 billion in revenue versus $1.82 billion expected. CEO Diego Antonio Cavero separately sold 3,500 shares at an average price of $319.

Korea Investment CORP purchased a new stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 28,200 shares of the bank's stock, valued at approximately $10,986,000.

A number of other large investors have also recently modified their holdings of BAP. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Credicorp in the first quarter valued at approximately $40,000. Brown Brothers Harriman & Co. bought a new position in Credicorp in the third quarter valued at $35,000. Kestra Advisory Services LLC purchased a new stake in Credicorp during the fourth quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp during the fourth quarter worth about $46,000. Finally, Allworth Financial LP bought a new stake in Credicorp during the second quarter worth about $66,000. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The shares were 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 directly owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.90% of the company's stock.

Credicorp Stock Performance

NYSE:BAP opened at $380.03 on Tuesday. 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 fifty-two week low of $230.45 and a fifty-two week high of $413.24. The firm has a market cap of $35.87 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The business has a 50 day moving average price of $385.70 and a 200-day moving average price of $354.05.

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 analysts' consensus estimates of $7.31 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. Equities research analysts predict that Credicorp Ltd. will post 29.41 earnings per share 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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