Pzena Investment Management LLC Has $229.72 Million Holdings in Credicorp Ltd. $BAP

Key Points

• Pzena Investment Management LLC has reduced its holdings in Credicorp Ltd. by 1.7%, now owning approximately 1.29% of the bank, valued at $229.72 million.
• Credicorp's stock price opened at $254.58, and it has recently reported earnings of $6.24 per share, exceeding analyst estimates.
• Multiple brokerages have adjusted their price targets for Credicorp, with Citigroup raising its target from $255 to $275 and HSBC downgrading from "buy" to "hold."

Pzena Investment Management LLC cut its holdings in Credicorp Ltd. (NYSE:BAP - Free Report) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,027,717 shares of the bank's stock after selling 17,657 shares during the period. Pzena Investment Management LLC owned approximately 1.29% of Credicorp worth $229,715,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BAP. GAMMA Investing LLC grew its stake in Credicorp by 27,522.6% during the first quarter. GAMMA Investing LLC now owns 8,563 shares of the bank's stock worth $1,594,000 after buying an additional 8,532 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after buying an additional 217 shares in the last quarter. Fifth Third Bancorp grew its stake in Credicorp by 1.5% during the first quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock worth $1,237,000 after buying an additional 101 shares in the last quarter. Ritholtz Wealth Management grew its stake in Credicorp by 2.1% during the first quarter. Ritholtz Wealth Management now owns 9,202 shares of the bank's stock worth $1,713,000 after buying an additional 188 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Credicorp by 34.2% during the first quarter. Blue Trust Inc. now owns 2,563 shares of the bank's stock worth $477,000 after buying an additional 653 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Stock Down 2.5%

Credicorp stock opened at $254.58 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $280.88. The firm has a 50 day moving average price of $258.39 and a two-hundred day moving average price of $225.83. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.69 and a beta of 1.11.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.51. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. Equities analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAP. Citigroup increased their price objective on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Weiss Ratings restated a "buy (b)" rating on shares of Credicorp in a research note on Saturday, September 27th. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and raised their price target for the company from $225.00 to $255.00 in a research note on Friday, September 5th. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, Hsbc Global Res upgraded shares of Credicorp to a "hold" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $250.00.

Credicorp Company 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.

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