Calamos Advisors LLC Buys 2,838 Shares of Credicorp Ltd. $BAP

Key Points

• Calamos Advisors LLC boosted its stake in Credicorp by 89.4% in the first quarter, buying 2,838 additional shares and bringing its total holdings to 6,014 shares worth about $2.04 million.
• Several analysts remain positive on Credicorp, with recent rating changes including UBS raising its price target to $412 and Morgan Stanley lifting its target to $480; the stock currently carries a Moderate Buy consensus rating.
• Credicorp shares were up 1.5% and opened at $398.30, near their 52-week high of $403.30, as insider activity showed CEO Diego Antonio Cavero and CFO Alejandro Perez-Reyes both sold shares recently.

Calamos Advisors LLC increased its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 89.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,014 shares of the bank's stock after purchasing an additional 2,838 shares during the period. Calamos Advisors LLC's holdings in Credicorp were worth $2,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. acquired a new position in shares of Credicorp during the 3rd quarter worth about $35,000. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the 2nd quarter valued at approximately $38,000. Kestra Advisory Services LLC bought a new position in Credicorp during the 4th quarter worth approximately $42,000. Quarry LP bought a new position in Credicorp during the 3rd quarter worth approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Credicorp during the fourth quarter valued at approximately $46,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company's stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.90% of the company's stock.

Wall Street Analyst Weigh In

BAP has been the topic of several analyst reports. UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and upped their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Weiss Ratings downgraded Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, May 29th. JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price for the company. in a research note on Monday, June 15th. Finally, Morgan Stanley upgraded Credicorp from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $377.00.

Credicorp Trading Up 1.5%

NYSE:BAP opened at $398.30 on Thursday. The company has a market cap of $37.59 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. Credicorp Ltd. has a twelve month low of $216.87 and a twelve month high of $403.30. The business has a 50 day moving average price of $357.59 and a two-hundred day moving average price of $341.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp 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.

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