Pictet Asset Management Holding SA Buys 8,180 Shares of Credicorp Ltd. $BAP

Key Points

• Pictet Asset Management Holding SA increased its stake in Credicorp (NYSE: BAP) by 5.9%, buying 8,180 shares to hold 146,305 shares (about 0.18%) valued at roughly $41.99 million at quarter-end, while institutional ownership totals ~89.81%.
• Credicorp reported a strong quarter (EPS $5.91, revenue $1.81B, net margin 24.53%, ROE 20.43%), trades at a market cap of $29.99B (P/E 13.07), and has seen analyst optimism with UBS raising its target to $408 and the stock's consensus rated as a Moderate Buy (average target $315.60).

Pictet Asset Management Holding SA increased its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,305 shares of the bank's stock after purchasing an additional 8,180 shares during the period. Pictet Asset Management Holding SA owned approximately 0.18% of Credicorp worth $41,990,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in shares of Credicorp in the third quarter worth approximately $35,000. Raymond James Financial Inc. bought a new stake in shares of Credicorp during the second quarter valued at approximately $38,000. Spire Wealth Management bought a new stake in shares of Credicorp during the third quarter valued at approximately $42,000. Quarry LP purchased a new position in Credicorp in the 3rd quarter worth approximately $46,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Credicorp in the 4th quarter worth approximately $46,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Down 0.9%

Shares of Credicorp stock opened at $317.80 on Thursday. The company has a market cap of $29.99 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.72 and a beta of 0.93. The company's 50 day moving average is $336.52 and its 200 day moving average is $306.61. Credicorp Ltd. has a twelve month low of $193.13 and a twelve month high of $380.20. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP - Get Free Report) last issued its 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 for the quarter. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. Research analysts anticipate that Credicorp Ltd. will post 29.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on BAP shares. UBS Group increased their target price on Credicorp from $318.00 to $408.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Zacks Research cut Credicorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group upped their price target on Credicorp from $293.00 to $330.00 and gave the company a "neutral" rating in a report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $315.60.

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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