Northern Trust Corp Has $103.74 Million Holdings in Credicorp Ltd. $BAP

Key Points

• Northern Trust Corp increased its stake in Credicorp Ltd. by 27.1%, acquiring a total of 557,245 shares worth approximately $103.7 million at the end of the first quarter.
• Several institutional investors also significantly increased their positions in Credicorp, with Itau Unibanco boosting its stake by 243.8% in the previous quarter.
• Wall Street analysts have upgraded Credicorp's stock rating to "buy", with the average target price raised to $236.80, suggesting strong future growth potential.

Northern Trust Corp increased its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,245 shares of the bank's stock after buying an additional 118,706 shares during the quarter. Northern Trust Corp owned about 0.70% of Credicorp worth $103,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group raised its position in shares of Credicorp by 2,196.2% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the bank's stock worth $227,000 after purchasing an additional 1,164 shares during the period. American Century Companies Inc. raised its position in shares of Credicorp by 3.6% during the first quarter. American Century Companies Inc. now owns 329,724 shares of the bank's stock worth $61,381,000 after purchasing an additional 11,513 shares during the period. Vestmark Advisory Solutions Inc. raised its position in shares of Credicorp by 94.2% during the first quarter. Vestmark Advisory Solutions Inc. now owns 5,494 shares of the bank's stock worth $1,023,000 after purchasing an additional 2,665 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Credicorp during the first quarter worth $108,000. Finally, National Pension Service raised its position in shares of Credicorp by 0.7% during the first quarter. National Pension Service now owns 17,592 shares of the bank's stock worth $3,275,000 after purchasing an additional 117 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Stock Up 0.2%

BAP stock traded up $0.56 during mid-day trading on Friday, hitting $256.65. The stock had a trading volume of 442,590 shares, compared to its average volume of 368,794. 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 Ltd. has a 1-year low of $165.51 and a 1-year high of $258.70. The company has a fifty day moving average of $236.15 and a 200 day moving average of $209.14. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.71 and a beta of 1.09.

Credicorp (NYSE:BAP - Get Free Report) last issued its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts expect that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Credicorp 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.