Resona Asset Management Co. Ltd. Boosts Holdings in Credicorp Ltd. $BAP

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Credicorp Ltd. by 9.3%, owning 18,013 shares worth $3,358,000 after purchasing an additional 1,534 shares in Q1.
• Credicorp reported a Q2 EPS of $6.24, surpassing analysts' expectations of $5.73, with a revenue of $1.58 billion also exceeding forecasts.
• The stock has a market cap of $20.03 billion and a consensus rating of "Hold" with an average target price of $227.25 according to analysts.

Resona Asset Management Co. Ltd. boosted its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,013 shares of the bank's stock after buying an additional 1,534 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Credicorp were worth $3,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAP. LPL Financial LLC raised its holdings in Credicorp by 44.4% in the 4th quarter. LPL Financial LLC now owns 4,419 shares of the bank's stock valued at $810,000 after buying an additional 1,358 shares during the period. Alliancebernstein L.P. increased its stake in Credicorp by 40.3% during the fourth quarter. Alliancebernstein L.P. now owns 3,513 shares of the bank's stock worth $644,000 after purchasing an additional 1,009 shares during the period. Wells Fargo & Company MN increased its stake in Credicorp by 45.7% during the fourth quarter. Wells Fargo & Company MN now owns 692 shares of the bank's stock worth $127,000 after purchasing an additional 217 shares during the period. Cerity Partners LLC increased its stake in Credicorp by 31.8% during the fourth quarter. Cerity Partners LLC now owns 4,045 shares of the bank's stock worth $735,000 after purchasing an additional 977 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Credicorp by 8.9% during the fourth quarter. Guggenheim Capital LLC now owns 6,536 shares of the bank's stock worth $1,198,000 after purchasing an additional 534 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Performance

Shares of BAP stock traded up $4.9850 during trading hours on Friday, hitting $256.0950. The stock had a trading volume of 87,534 shares, compared to its average volume of 318,657. The firm has a market capitalization of $20.37 billion, a PE ratio of 13.94, a PEG ratio of 0.69 and a beta of 1.09. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $256.68. The stock's 50 day moving average is $231.79 and its 200 day moving average is $206.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.03.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. As a group, research analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BAP shares. Citigroup upped their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen lowered shares of Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Credicorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.80.

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.