Credicorp Ltd. $BAP Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG cut its Credicorp stake by 31.4% in the second quarter, selling 5,000 shares and retaining 10,930 shares valued at approximately $4.2 million.
• Other institutional investors—including TD Waterhouse Canada and BTG Pactual—added to their positions, while institutional investors and hedge funds collectively own 89.81% of Credicorp’s shares.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $418.40. Credicorp recently traded at $382.97, compared with a 52-week range of $230.45 to $413.24.

Raiffeisen Bank International AG lessened its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 31.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,930 shares of the bank's stock after selling 5,000 shares during the quarter. Raiffeisen Bank International AG's holdings in Credicorp were worth $4,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Syon Capital LLC acquired a new position in Credicorp during the second quarter worth about $206,000. TD Waterhouse Canada Inc. boosted its stake in shares of Credicorp by 62.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,000 shares of the bank's stock worth $5,805,000 after acquiring an additional 5,762 shares in the last quarter. BTG Pactual Asset Management US LLC grew its holdings in shares of Credicorp by 33.4% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 1,233 shares of the bank's stock worth $480,000 after acquiring an additional 309 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Credicorp by 4.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,823 shares of the bank's stock worth $711,000 after acquiring an additional 72 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in Credicorp by 0.8% in the 2nd quarter. Royal London Asset Management Ltd. now owns 106,105 shares of the bank's stock valued at $41,336,000 after purchasing an additional 874 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analyst Weigh In

BAP has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. UBS Group upped their target price on Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a report on Thursday, August 20th. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and raised their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lowered shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $418.40.

Credicorp Stock Performance

NYSE BAP opened at $382.97 on Friday. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The stock has a market cap of $36.15 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. The business has a fifty day moving average of $385.33 and a 200-day moving average of $355.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

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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