Goldman Sachs Group Inc. Increases Stock Holdings in Credicorp Ltd. $BAP

Key Points

• Goldman Sachs Group Inc. has increased its holdings in Credicorp Ltd. by 0.6% during the first quarter, now owning 781,374 shares valued at approximately $145.5 million.
• Several institutional investors have raised their stakes in Credicorp, with Bank of Nova Scotia seeing the largest increase at 21.8% during the same period.
• Credicorp reported better-than-expected quarterly earnings with an EPS of $6.24, exceeding analyst estimates of $5.73, and a revenue of $1.58 billion compared to an estimate of $1.52 billion.

Goldman Sachs Group Inc. grew its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 781,374 shares of the bank's stock after acquiring an additional 4,527 shares during the quarter. Goldman Sachs Group Inc. owned 0.98% of Credicorp worth $145,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Deltec Asset Management LLC boosted its holdings in Credicorp by 4.3% during the first quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock worth $447,000 after purchasing an additional 100 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Credicorp by 1.5% during the 1st quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock worth $1,237,000 after buying an additional 101 shares in the last quarter. National Pension Service boosted its stake in shares of Credicorp by 0.7% in the 1st quarter. National Pension Service now owns 17,592 shares of the bank's stock worth $3,275,000 after buying an additional 117 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Credicorp by 2.1% in the first quarter. Ritholtz Wealth Management now owns 9,202 shares of the bank's stock valued at $1,713,000 after acquiring an additional 188 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Credicorp during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 1.9%

Shares of NYSE:BAP traded up $5.15 on Wednesday, reaching $275.94. 69,374 shares of the company traded hands, compared to its average volume of 319,636. The stock has a market capitalization of $21.95 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.12. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $278.44. The business's 50-day simple moving average is $245.84 and its 200 day simple moving average is $215.99. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. As a group, equities analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and boosted their price target for the stock from $225.00 to $255.00 in a report on Friday, September 5th. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Hsbc Global Res raised shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. Finally, Citigroup increased their target price on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $250.00.

About Credicorp

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.