81,910 Credicorp Ltd. $BAP Shares Purchased by Vontobel Holding Ltd.

Key Points

• Vontobel Holding increased its Credicorp stake by 32.2% in the third quarter, purchasing 81,910 shares and bringing its holdings to 336,054 shares valued at approximately $127.7 million.
• Institutional ownership remains high at 89.81%, with several major investment firms—including BlackRock, Pzena Investment Management and Bank of Nova Scotia—establishing new positions during the second quarter.
• Credicorp shares recently traded at $391.04, while analysts maintained a “Moderate Buy” consensus rating and an average price target of $431.80.

Vontobel Holding Ltd. lifted its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,054 shares of the bank's stock after purchasing an additional 81,910 shares during the period. Vontobel Holding Ltd. owned 0.36% of Credicorp worth $127,657,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BAP. BlackRock Inc. purchased a new position in Credicorp during the second quarter valued at approximately $1,933,666,000. Pzena Investment Management LLC purchased a new stake in shares of Credicorp in the second quarter worth $325,911,000. Bank of Nova Scotia purchased a new stake in shares of Credicorp in the second quarter worth $311,294,000. Bank of America Corp DE bought a new stake in shares of Credicorp during the 2nd quarter valued at $264,501,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Credicorp during the 2nd quarter valued at $243,544,000. Institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 0.7%

Shares of BAP stock traded up $2.62 during trading hours on Friday, reaching $391.04. 417,608 shares of the stock were exchanged, compared to its average volume of 290,623. Credicorp Ltd. has a 12-month low of $230.45 and a 12-month high of $413.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company's 50-day moving average price is $379.71 and its 200-day moving average price is $365.19. The firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAP. Weiss Ratings upgraded shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 9th. JPMorgan Chase & Co. raised Credicorp from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. UBS Group increased their target price on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Finally, The Goldman Sachs Group lifted their target price on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $431.80.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru's leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp's operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.

Want to see what other hedge funds are holding BAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credicorp Ltd. (NYSE:BAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.