California State Teachers Retirement System Purchases 4,100,928 Shares of Credicorp Ltd. $BAP

California State Teachers Retirement System raised its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 39,776.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,111,238 shares of the bank's stock after purchasing an additional 4,100,928 shares during the period. California State Teachers Retirement System owned approximately 4.36% of Credicorp worth $1,601,656,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BAP. BlackRock Inc. bought a new stake in Credicorp in the 2nd quarter valued at approximately $1,933,666,000. Pzena Investment Management LLC bought a new position in shares of Credicorp in the 2nd quarter valued at about $325,911,000. Bank of Nova Scotia acquired a new position in shares of Credicorp during the 2nd quarter worth about $311,294,000. Bank of America Corp DE acquired a new position in shares of Credicorp during the 2nd quarter worth about $264,501,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Credicorp in the 2nd quarter valued at about $243,544,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BAP. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. UBS Group lifted their price target on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. JPMorgan Chase & Co. lowered Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective on the stock. in a report on Monday, June 15th. Weiss Ratings raised shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, September 3rd. Finally, HSBC raised Credicorp from a "hold" rating to a "buy" rating and lifted their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Credicorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $418.40.

Credicorp Price Performance

Shares of BAP opened at $377.80 on Friday. Credicorp Ltd. has a 12-month low of $230.45 and a 12-month high of $413.24. The business has a 50-day simple moving average of $384.31 and a two-hundred day simple moving average of $357.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market cap of $35.66 billion, a PE ratio of 14.00, a PEG ratio of 0.74 and a beta of 0.88.

Credicorp Company Profile

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

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