Fig Financial Advisory Services Inc. ADV Buys New Position in Credicorp Ltd. $BAP

Key Points

• Fig Financial Advisory Services purchased 3,467 shares of Credicorp, valued at approximately $1.3 million, during the third quarter. Institutional investors collectively own 89.81% of the company.
• Analyst sentiment is broadly positive: five analysts rate Credicorp a Buy and two rate it a Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $431.80.
• Credicorp shares opened at $376.25 after declining 2.3%, with a market capitalization of approximately $35.5 billion and a 52-week trading range of $230.45 to $413.24.

Fig Financial Advisory Services Inc. ADV bought a new stake in Credicorp Ltd. (NYSE:BAP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,467 shares of the bank's stock, valued at approximately $1,317,000.

Several other institutional investors also recently added to or reduced their stakes in BAP. Amundi increased its stake in Credicorp by 26.4% during the second quarter. Amundi now owns 535,235 shares of the bank's stock valued at $208,517,000 after acquiring an additional 111,785 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Credicorp in the 1st quarter worth approximately $1,800,000. Ashoka WhiteOak Capital Pte Ltd acquired a new stake in shares of Credicorp during the 2nd quarter worth approximately $3,611,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Credicorp during the second quarter valued at approximately $3,857,000. Finally, USS Investment Management Ltd raised its stake in shares of Credicorp by 15.1% in the fourth quarter. USS Investment Management Ltd now owns 110,344 shares of the bank's stock valued at $31,684,000 after purchasing an additional 14,470 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. UBS Group lifted their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Weiss Ratings cut shares of Credicorp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, September 25th. Finally, The Goldman Sachs Group upped their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $431.80.

Credicorp Stock Down 2.3%

Shares of NYSE BAP opened at $376.25 on Thursday. The stock has a market cap of $35.51 billion, a PE ratio of 13.94, a PEG ratio of 0.75 and a beta of 0.92. The business has a fifty day moving average of $381.23 and a two-hundred day moving average of $362.72. Credicorp Ltd. has a 52-week low of $230.45 and a 52-week high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

About Credicorp

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, investment management, pension administration and investment banking services to individuals, businesses and institutional clients.

Its principal businesses include Banco de Crédito del Perú, one of Peru's leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp's operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.

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