Korea Investment CORP Purchases 1,000 Shares of Credicorp Ltd. $BAP

Key Points

• Korea Investment CORP increased its stake in Credicorp Ltd. by 4.0% during the first quarter, now owning 26,200 shares valued at approximately $4.88 million.
• The stock received multiple upgrades from analysts, with Goldman Sachs raising its price target from $174 to $225 and Citigroup from $255 to $275, indicating a positive outlook.
• Credicorp reported earnings of $6.24 per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $1.58 billion.

Korea Investment CORP boosted its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,200 shares of the bank's stock after buying an additional 1,000 shares during the quarter. Korea Investment CORP's holdings in Credicorp were worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Credicorp by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock worth $564,559,000 after buying an additional 7,692 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in Credicorp by 243.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,716,777 shares of the bank's stock valued at $290,920,000 after acquiring an additional 1,217,368 shares during the period. Bank of Nova Scotia raised its holdings in Credicorp by 21.8% during the 1st quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock valued at $161,465,000 after acquiring an additional 155,162 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Credicorp by 59.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 757,271 shares of the bank's stock valued at $138,824,000 after acquiring an additional 282,869 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Credicorp by 2.9% during the 4th quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock valued at $137,070,000 after acquiring an additional 20,785 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BAP shares. Citigroup boosted their target price on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and boosted their target price for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.80.

Credicorp Price Performance

Shares of Credicorp stock traded up $1.88 during trading on Thursday, hitting $254.21. The stock had a trading volume of 43,364 shares, compared to its average volume of 316,962. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 0.70 and a beta of 1.09. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $256.99. The business's 50-day moving average is $234.62 and its 200 day moving average is $208.23. 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 released its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, beating analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. As a group, sell-side analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

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.