Caisse DE Depot ET Placement DU Quebec Raises Holdings in Credicorp Ltd. $BAP

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Credicorp Ltd. by 276.7%, acquiring 98,300 additional shares, bringing its total ownership to 133,823 shares valued at approximately $24.9 million.
• Credicorp reported an earnings per share (EPS) of $6.24 for the latest quarter, surpassing estimates and generating revenue of $1.58 billion, compared to the consensus estimate of $1.52 billion.
• Several analyst upgrades have occurred with Citigroup raising its price target from $255 to $275 and three analysts issuing a Buy rating for the stock, reflecting positive sentiment in the market.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 276.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,823 shares of the bank's stock after acquiring an additional 98,300 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.17% of Credicorp worth $24,912,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BAP. SVB Wealth LLC bought a new position in shares of Credicorp in the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Credicorp in the 4th quarter valued at about $40,000. Cullen Frost Bankers Inc. bought a new position in shares of Credicorp in the 1st quarter valued at about $40,000. Farther Finance Advisors LLC lifted its holdings in shares of Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock valued at $44,000 after acquiring an additional 217 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Credicorp in the 4th quarter valued at about $47,000. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on BAP. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and increased their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. UBS Group reissued a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Finally, Citigroup increased their price objective on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.80.

Credicorp Trading Up 0.2%

Shares of NYSE:BAP traded up $0.56 during trading on Monday, reaching $256.65. 442,590 shares of the company were exchanged, compared to its average volume of 371,509. The firm has a market capitalization of $20.41 billion, a PE ratio of 13.96, a P/E/G ratio of 0.71 and a beta of 1.12. The business's fifty day simple moving average is $236.97 and its 200-day simple moving average is $209.98. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $258.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08.

Credicorp (NYSE:BAP - Get Free Report) last issued 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. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. On average, research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current year.

Credicorp Profile

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.