Credicorp Ltd. $BAP Stock: Ashoka WhiteOak Capital Pte Ltd Increases Position

Key Points

• Ashoka WhiteOak Capital more than doubled its Credicorp position in the third quarter, acquiring 9,560 additional shares to hold 18,830 shares valued at approximately $7.23 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding approximately 89.81% of Credicorp’s shares.
• Analyst sentiment is positive: Credicorp has a consensus “Moderate Buy” rating and an average price target of $431.80, compared with its reported share price of $361.17.

Ashoka WhiteOak Capital Pte Ltd grew its stake in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 103.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,830 shares of the bank's stock after acquiring an additional 9,560 shares during the quarter. Credicorp comprises approximately 2.1% of Ashoka WhiteOak Capital Pte Ltd's investment portfolio, making the stock its 14th largest holding. Ashoka WhiteOak Capital Pte Ltd's holdings in Credicorp were worth $7,231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. acquired a new stake in Credicorp during the 2nd quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Credicorp in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credicorp in the second quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of Credicorp by 33.7% during the third quarter. GAMMA Investing LLC now owns 111 shares of the bank's stock worth $42,000 after purchasing an additional 28 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Credicorp during the first quarter worth $40,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Performance

NYSE:BAP opened at $361.17 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $34.09 billion, a PE ratio of 13.49, a P/E/G ratio of 0.70 and a beta of 0.92. Credicorp Ltd. has a fifty-two week low of $230.45 and a fifty-two week high of $413.24. The company has a fifty day moving average of $379.22 and a two-hundred day moving average of $358.90.

Analysts Set New Price Targets

BAP has been the topic of a number of recent research reports. UBS Group upped their target price on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. The Goldman Sachs Group lifted their price target on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Weiss Ratings raised Credicorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, October 23rd. Finally, JPMorgan Chase & Co. upgraded Credicorp from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $453.00 to $482.00 in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Credicorp has a consensus rating of "Moderate Buy" and a consensus price target of $431.80.

Credicorp Profile

Credicorp Ltd. NYSE: BAP is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru's largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.

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