Financiere des Professionnels Fonds d investissement inc. Cuts Stake in Credicorp Ltd. $BAP

Key Points

• Financiere des Professionnels Fonds d investissement inc. reduced its stake in Credicorp Ltd. (NYSE:BAP) by 20.1%, owning 28,277 shares worth $6.32 million after selling 7,108 shares in the second quarter.
• Several institutional investors, including Millennium Management LLC and Teacher Retirement System of Texas, significantly increased their holdings in Credicorp during the first quarter, highlighting strong institutional interest in the stock.
• Credicorp recently reported earnings of $6.24 per share for the quarter, exceeding analysts' expectations, and currently holds a consensus price target of $250.00 among investment analysts.

Financiere des Professionnels Fonds d investissement inc. reduced its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 20.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,277 shares of the bank's stock after selling 7,108 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Credicorp were worth $6,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Confluence Investment Management LLC bought a new stake in Credicorp in the second quarter valued at $201,000. Voya Investment Management LLC increased its stake in Credicorp by 2.4% in the first quarter. Voya Investment Management LLC now owns 5,088 shares of the bank's stock valued at $947,000 after purchasing an additional 120 shares in the last quarter. Inspire Investing LLC bought a new stake in Credicorp in the first quarter valued at $744,000. Acadian Asset Management LLC increased its stake in Credicorp by 30.3% in the first quarter. Acadian Asset Management LLC now owns 316,525 shares of the bank's stock valued at $58,897,000 after purchasing an additional 73,644 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Credicorp by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,343,531 shares of the bank's stock valued at $250,112,000 after purchasing an additional 13,592 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAP. UBS Group boosted their target price on shares of Credicorp from $257.00 to $318.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Citigroup boosted their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Hsbc Global Res raised shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $250.00.

Credicorp Price Performance

Credicorp stock traded down $0.08 during midday trading on Friday, reaching $261.83. 512,575 shares of the stock were exchanged, compared to its average volume of 347,015. The company's fifty day moving average is $248.48 and its 200-day moving average is $217.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $20.83 billion, a PE ratio of 12.41, a PEG ratio of 0.71 and a beta of 1.12. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $280.88.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping analysts' consensus estimates 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 23.22% and a return on equity of 17.94%. On average, sell-side analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

Credicorp Company 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.