Credicorp Ltd. $BAP Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its stake in Credicorp Ltd. by 14.7%, now owning 52,800 shares valued at approximately $9.8 million.
• Credicorp's recent quarterly earnings reported an EPS of $6.24, exceeding analyst expectations of $5.73, with revenues of $1.58 billion.
• Goldman Sachs upgraded Credicorp from a "sell" to "neutral" rating, raising its price target from $174 to $225, while the consensus rating remains a "Moderate Buy."

Candriam S.C.A. lowered its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 52,800 shares of the bank's stock after selling 9,100 shares during the quarter. Candriam S.C.A. owned 0.07% of Credicorp worth $9,829,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Credicorp in the 4th quarter valued at $40,000. Cullen Frost Bankers Inc. purchased a new position in Credicorp in the 1st quarter valued at $40,000. Farther Finance Advisors LLC lifted its holdings in 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 purchasing an additional 217 shares in the last quarter. Quarry LP purchased a new position in Credicorp in the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Credicorp in the 1st quarter valued at $108,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Stock Up 0.6%

NYSE BAP opened at $250.57 on Friday. Credicorp Ltd. has a 52 week low of $165.48 and a 52 week high of $255.39. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The business's fifty day simple moving average is $231.79 and its 200-day simple moving average is $206.45. The firm has a market cap of $19.93 billion, a PE ratio of 13.63, a P/E/G ratio of 0.69 and a beta of 1.09.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.25% and a net margin of 20.94%. As a group, equities analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

BAP has been the topic of a number of research reports. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen lowered Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. UBS Group restated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, Citigroup lifted their price target on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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