Fairtree Asset Management Pty Ltd Takes $1.43 Million Position in Credicorp Ltd. $BAP

Key Points

• Fairtree Asset Management acquired 3,677 Credicorp shares worth approximately $1.43 million in the second quarter. Institutional investors collectively own 89.81% of the company.
• Analyst sentiment is generally positive: Credicorp has a “Moderate Buy” consensus rating from seven analysts, with an average price target of $418.40.
• Credicorp’s latest quarterly results slightly exceeded expectations, with EPS of $7.33 versus the $7.31 consensus and revenue of $1.96 billion versus $1.82 billion expected.

Fairtree Asset Management Pty Ltd bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,677 shares of the bank's stock, valued at approximately $1,432,000.

Several other large investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new stake in Credicorp during the third quarter worth approximately $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp during the second quarter valued at $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Credicorp in the 1st quarter valued at $40,000. Kestra Advisory Services LLC acquired a new position in shares of Credicorp in the 4th quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Credicorp in the 4th quarter worth about $46,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares of the company's stock, valued at $2,330,933. This trade 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 hyperlink. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BAP has been the subject of a number of analyst reports. HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and upped their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. JPMorgan Chase & Co. lowered shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target on the stock. in a report on Monday, June 15th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. The Goldman Sachs Group raised their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $418.40.

Credicorp Trading Up 0.6%

NYSE BAP opened at $371.16 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The firm's fifty day simple moving average is $385.15 and its 200-day simple moving average is $353.94. The company has a market capitalization of $35.03 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.72 and a beta of 0.90.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The firm had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.82 billion. As a group, sell-side analysts anticipate that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

About Credicorp

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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