Driehaus Capital Management LLC Raises Holdings in Credicorp Ltd. $BAP

Key Points

• Driehaus Capital Management LLC has increased its stake in Credicorp Ltd. by 13.4%, owning approximately 574,504 shares valued at $106.95 million, making it the 12th largest position in its portfolio.
• Credicorp's stock recently opened at $256.06, having a market cap of $20.37 billion and notable earnings that exceeded analysts' expectations with $6.24 earnings per share.
• Multiple analysts have upgraded their ratings for Credicorp, with Citigroup increasing the target price from $255.00 to $275.00 and giving it a "buy" rating.

Driehaus Capital Management LLC raised its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 574,504 shares of the bank's stock after acquiring an additional 68,011 shares during the period. Credicorp comprises approximately 1.0% of Driehaus Capital Management LLC's holdings, making the stock its 12th largest holding. Driehaus Capital Management LLC owned 0.72% of Credicorp worth $106,950,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Credicorp by 45.7% in the fourth quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock valued at $127,000 after buying an additional 217 shares in the last quarter. First Trust Advisors LP increased its holdings in Credicorp by 42.0% in the fourth quarter. First Trust Advisors LP now owns 3,298 shares of the bank's stock valued at $605,000 after purchasing an additional 975 shares during the period. Dimensional Fund Advisors LP boosted its position in Credicorp by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 243,349 shares of the bank's stock valued at $44,596,000 after acquiring an additional 6,995 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Credicorp by 23.9% in the 4th quarter. Voya Investment Management LLC now owns 4,968 shares of the bank's stock worth $911,000 after acquiring an additional 959 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Credicorp in the 4th quarter valued at about $414,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, UBS Group reiterated a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp Trading Up 1.2%

Shares of Credicorp stock traded up $2.98 during trading on Tuesday, hitting $260.18. The stock had a trading volume of 360,172 shares, compared to its average volume of 319,252. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $20.69 billion, a PE ratio of 14.15, a P/E/G ratio of 0.71 and a beta of 1.12. The stock has a 50 day simple moving average of $236.97 and a 200 day simple moving average of $209.98. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $260.27.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share 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 net margin of 20.94% and a return on equity of 16.25%. On average, research analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Profile

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.