Credicorp Ltd. $BAP Shares Acquired by Caisse DE Depot ET Placement DU Quebec

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 increased its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 276.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,823 shares of the bank's stock after purchasing an additional 98,300 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.17% of Credicorp worth $24,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Synovus Financial Corp raised its position in shares of Credicorp by 163.6% during the 1st quarter. Synovus Financial Corp now owns 13,020 shares of the bank's stock worth $2,424,000 after purchasing an additional 8,080 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Credicorp during the 1st quarter worth about $8,638,000. SVB Wealth LLC acquired a new position in shares of Credicorp during the 1st quarter worth about $35,000. Capital Fund Management S.A. acquired a new position in shares of Credicorp during the 1st quarter worth about $2,482,000. Finally, Korea Investment CORP raised its position in shares of Credicorp by 4.0% during the 1st quarter. Korea Investment CORP now owns 26,200 shares of the bank's stock worth $4,877,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

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

Credicorp Trading Up 0.2%

Shares of NYSE:BAP traded up $0.56 during mid-day trading on Friday, reaching $256.65. 442,590 shares of the company were exchanged, compared to its average volume of 368,794. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.71 and a beta of 1.09. The firm's 50-day simple moving average is $236.15 and its 200 day simple moving average is $209.31. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $258.70.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. Equities research analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

Credicorp Company 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.