Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Credicorp Ltd. $BAP

Key Points

• Mitsubishi UFJ Asset Management boosted its stake in Credicorp by 8.2% in the fourth quarter, buying 5,791 additional shares and bringing its total holding to 76,676 shares valued at about $21.96 million.
• Credicorp’s stock was up 2.7% and opened at $330.60, with a market cap of $31.2 billion. The company’s shares have traded between $193.13 and $380.20 over the past 52 weeks.
• Analysts remain mixed but broadly positive: Credicorp has a Moderate Buy consensus rating with a $315.60 price target, though Zacks recently downgraded it to Hold while UBS raised its target to $408.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,676 shares of the bank's stock after buying an additional 5,791 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Credicorp worth $21,961,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Credicorp during the 3rd quarter valued at $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp in the 2nd quarter worth about $38,000. Spire Wealth Management purchased a new stake in shares of Credicorp in the 3rd quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Credicorp in the 4th quarter worth about $46,000. Finally, Quarry LP purchased a new stake in shares of Credicorp in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Trading Up 2.7%

NYSE:BAP opened at $330.60 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $334.47 and a 200-day moving average price of $308.91. The stock has a market cap of $31.20 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.74 and a beta of 0.87. Credicorp Ltd. has a 12 month low of $193.13 and a 12 month high of $380.20.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. Equities analysts predict that Credicorp Ltd. will post 29.09 EPS for the current year.

Analysts Set New Price Targets

BAP has been the subject of several research analyst reports. Zacks Research cut shares of Credicorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group raised their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Finally, UBS Group raised their target price on shares of Credicorp from $318.00 to $408.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $315.60.

Credicorp Company Profile

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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