Price T Rowe Associates Inc. MD Lowers Holdings in Credicorp Ltd. $BAP

Key Points

• Price T Rowe Associates Inc. reduced its stake in Credicorp Ltd. by 6.4%, selling 48,689 shares, bringing its total holdings to 708,582 shares valued at approximately $131.91 million.
• Several other institutional investors, including Wells Fargo and First Trust Advisors, increased their stakes in Credicorp by significant margins during the fourth quarter.
• Analysts have upgraded Credicorp's stock rating, with the average target price now at $236.80, indicating a consensus rating of "Moderate Buy."

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 708,582 shares of the bank's stock after selling 48,689 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.89% of Credicorp worth $131,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Credicorp in the fourth quarter worth $40,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Credicorp during the 1st quarter valued at about $40,000. Farther Finance Advisors LLC grew its stake in shares of Credicorp by 2,170.0% in the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after acquiring an additional 217 shares during the period. Quarry LP purchased a new position in shares of Credicorp during the fourth quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Credicorp during the first quarter valued at approximately $108,000. Institutional investors own 89.81% of the company's stock.

Credicorp Stock Performance

BAP traded up $0.56 during midday trading on Friday, reaching $256.65. The company had a trading volume of 442,590 shares, compared to its average volume of 368,794. The business has a 50-day moving average of $236.15 and a two-hundred day moving average of $209.31. The company has a quick ratio of 1.08, a current 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 market cap of $20.41 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.71 and a beta of 1.09.

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

Analyst Ratings Changes

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