Credicorp Ltd. $BAP Stock Position Lifted by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its stake in Credicorp Ltd. by 2,196.2%, acquiring an additional 1,164 shares during the first quarter, bringing its total holdings to 1,217 shares worth $227,000.
• Several large investors, including LPL Financial LLC and Wells Fargo, have also significantly increased their positions in Credicorp in recent months, highlighting growing institutional interest in the stock.
• Credicorp reported strong earnings with an EPS of $6.24, exceeding analyst expectations, and its stock currently has an average rating of "Moderate Buy" with a target price of $227.25.

Brooklyn Investment Group grew its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 2,196.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217 shares of the bank's stock after acquiring an additional 1,164 shares during the quarter. Brooklyn Investment Group's holdings in Credicorp were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Credicorp in the first quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Credicorp during the fourth quarter worth about $40,000. Farther Finance Advisors LLC lifted its position in Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after buying an additional 217 shares during the period. Quarry LP purchased a new position in Credicorp during the fourth quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Credicorp during the first quarter worth about $108,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

NYSE:BAP traded down $1.25 during trading hours on Monday, reaching $253.76. 27,910 shares of the stock were exchanged, compared to its average volume of 319,021. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $232.55 and a 200-day simple moving average of $207.16. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $256.99. The stock has a market capitalization of $20.18 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.71 and a beta of 1.09.

Credicorp (NYSE:BAP - Get Free Report) last released its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. As a group, sell-side analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BAP has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded 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 report on Thursday, July 24th. Citigroup upped their price target on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded Credicorp from a "hold" rating to a "buy" rating in a research note on Friday. Finally, UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $236.80.

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.