Banco BTG Pactual S.A. Sells 5,634 Shares of Credicorp Ltd. $BAP

Key Points

• Banco BTG Pactual S.A. reduced its holdings in Credicorp Ltd. by 69.3%, now owning 2,500 shares valued at $465,000.
• Multiple institutional investors, including LPL Financial LLC and Wells Fargo & Company MN, have increased their stakes in Credicorp during the fourth quarter.
• Goldman Sachs upgraded Credicorp's rating from "sell" to "neutral" and raised the price target from $174 to $225.

Banco BTG Pactual S.A. reduced its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 69.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the bank's stock after selling 5,634 shares during the period. Banco BTG Pactual S.A.'s holdings in Credicorp were worth $465,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fiduciary Trust Co grew its stake in shares of Credicorp by 4.3% in the fourth quarter. Fiduciary Trust Co now owns 1,939 shares of the bank's stock worth $356,000 after acquiring an additional 80 shares during the last quarter. Deltec Asset Management LLC grew its stake in shares of Credicorp by 4.3% in the first quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock worth $447,000 after acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Credicorp by 1.5% in the first quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock worth $1,237,000 after acquiring an additional 101 shares during the last quarter. National Pension Service grew its stake in shares of Credicorp by 0.7% in the first quarter. National Pension Service now owns 17,592 shares of the bank's stock worth $3,275,000 after acquiring an additional 117 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Credicorp by 0.3% in the fourth quarter. Stifel Financial Corp now owns 40,366 shares of the bank's stock worth $7,400,000 after acquiring an additional 123 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. UBS Group reaffirmed a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Citigroup increased their price objective on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $236.80.

Credicorp Stock Performance

Shares of Credicorp stock traded up $3.8110 during trading hours on Friday, reaching $254.9210. 409,947 shares of the stock traded hands, compared to its average volume of 371,847. The company has a 50 day moving average price of $232.55 and a 200 day moving average price of $207.06. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.71 and a beta of 1.09. Credicorp Ltd. has a one year low of $165.51 and a one year high of $256.99. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.51. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. On average, equities research analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

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.