Bamco Inc. NY Takes Position in Credicorp Ltd. $BAP

Bamco Inc. NY bought a new position in Credicorp Ltd. (NYSE:BAP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 128,884 shares of the bank's stock, valued at approximately $50,211,000. Bamco Inc. NY owned 0.14% of Credicorp as of its most recent SEC filing.

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

Credicorp Stock Down 0.4%

BAP stock opened at $381.74 on Thursday. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24. The firm has a 50-day simple moving average of $385.93 and a 200-day simple moving average of $354.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $36.03 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.75 and a beta of 0.90.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.52% and a net margin of 25.04%.The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.82 billion. Equities analysts forecast that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Insider Activity

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 7,307 shares of the company's stock, valued at $2,330,933. This trade represents a 32.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report 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 on the stock. in a research note on Monday, June 15th. UBS Group raised their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and boosted their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $418.40.

Credicorp Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source