Edmond DE Rothschild Holding S.A. Acquires Shares of 3,010 Credicorp Ltd. $BAP

Key Points

• Edmond DE Rothschild Holding acquired 3,010 Credicorp shares in the second quarter, valued at approximately $1.17 million. Institutional investors collectively own 89.81% of the company, with BlackRock and Pzena Investment Management also initiating sizable positions.
• Credicorp exceeded quarterly expectations, reporting $7.33 EPS versus the $7.31 consensus and revenue of $1.96 billion versus estimates of $1.82 billion. Analysts project full-year EPS of $29.41.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $418.40; UBS and Morgan Stanley recently raised their targets, while JPMorgan downgraded the stock to neutral.

Edmond DE Rothschild Holding S.A. bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,010 shares of the bank's stock, valued at approximately $1,173,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Credicorp during the 2nd quarter worth about $1,933,666,000. Pzena Investment Management LLC bought a new stake in shares of Credicorp during the second quarter valued at approximately $325,911,000. Capital World Investors raised its position in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank's stock worth $630,081,000 after purchasing an additional 565,490 shares during the last quarter. Norges Bank bought a new position in Credicorp in the 4th quarter valued at $150,814,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Credicorp during the fourth quarter valued at $89,754,000. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.90% of the company's stock.

Credicorp Stock Up 0.6%

Shares of NYSE:BAP opened at $371.16 on Friday. The company has a 50 day moving average price of $385.15 and a two-hundred day moving average price of $353.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.00. The company has a market capitalization of $35.03 billion, a PE ratio of 13.75, a PEG ratio of 0.72 and a beta of 0.90. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Analysts forecast that Credicorp Ltd. will post 29.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

BAP has been the subject of a number of research reports. UBS Group lifted their price objective on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research report on Thursday. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and raised their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. downgraded shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target for the company. in a research note on Monday, June 15th. Morgan Stanley raised shares of Credicorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, Weiss Ratings raised shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $418.40.

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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