Novem Group Invests $1.19 Million in Credicorp Ltd. $BAP

Key Points

• Novem Group bought a new position of 4,142 shares in Credicorp (NYSE: BAP) during Q4, valued at approximately $1.19 million.
• Institutional ownership is high at 89.81%, and several other funds (e.g., Brown Brothers Harriman, Mirae, Raymond James) have recently initiated small positions in the stock.
• Analysts show a mixed view: the consensus is a "Moderate Buy" with an average price target of $297.60, while the stock traded near $335.92 and broker actions ranged from Goldman raising its target to Zacks cutting to a hold.

Novem Group purchased a new position in Credicorp Ltd. (NYSE:BAP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,142 shares of the bank's stock, valued at approximately $1,189,000.

A number of other hedge funds have also recently made changes to their positions in BAP. Brown Brothers Harriman & Co. purchased a new position in Credicorp in the 3rd quarter worth approximately $35,000. Spire Wealth Management purchased a new position in Credicorp in the 3rd quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credicorp in the 4th quarter worth approximately $46,000. Raymond James Financial Inc. purchased a new position in Credicorp in the 2nd quarter worth approximately $38,000. Finally, Quarry LP purchased a new position in Credicorp in the 3rd quarter worth approximately $46,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BAP. Weiss Ratings restated a "buy (b)" rating on shares of Credicorp in a report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Finally, Zacks Research lowered shares of Credicorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $297.60.

Credicorp Price Performance

Shares of NYSE BAP opened at $335.92 on Tuesday. The firm has a market cap of $31.70 billion, a P/E ratio of 13.82, a PEG ratio of 0.74 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $338.48 and a 200 day moving average of $303.84. Credicorp Ltd. has a twelve month low of $183.51 and a twelve month high of $380.20.

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

About Credicorp

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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