Deutsche Bank AG Makes New Investment in Credicorp Ltd. $BAP

Key Points

• Deutsche Bank initiated a new Credicorp position of 125,317 shares valued at approximately $48.8 million, representing about 0.13% of the company. Institutional investors collectively own 89.81% of Credicorp.
• Credicorp exceeded quarterly expectations, reporting $7.33 in EPS versus a $7.31 estimate and revenue of $1.96 billion versus $1.82 billion expected. The bank posted a 25.04% net margin and 20.52% return on equity.
• Analyst sentiment remains favorable, with Morgan Stanley and HSBC upgrading the stock and UBS raising its price target to $473. Credicorp has a “Moderate Buy” consensus rating and an average target price of $418.40.

Deutsche Bank AG bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 125,317 shares of the bank's stock, valued at approximately $48,821,000. Deutsche Bank AG owned approximately 0.13% of Credicorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BAP. Brown Brothers Harriman & Co. acquired a new stake in Credicorp during the 3rd quarter valued at $35,000. Raymond James Financial Inc. acquired a new position in shares of Credicorp in the second quarter worth $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Credicorp in the first quarter valued at $40,000. Kestra Advisory Services LLC purchased a new stake in shares of Credicorp in the fourth quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credicorp during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.90% of the company's stock.

Credicorp Stock Performance

Credicorp stock opened at $378.51 on Friday. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The stock has a market cap of $35.72 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The stock has a 50 day moving average of $385.34 and a 200-day moving average of $354.11.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate of $7.31 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. On average, analysts expect that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BAP shares. Morgan Stanley upgraded Credicorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Weiss Ratings upgraded Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, August 6th. UBS Group raised their price target on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and increased their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $418.40.

Credicorp Company 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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