Royal Bank of Canada Raises Stake in Credicorp Ltd. $BAP

Key Points

• Royal Bank of Canada increased its stake in Credicorp Ltd. by purchasing an additional 14,852 shares, raising its ownership to approximately 1,695,980 shares, valued at $315.7 million.
• Credicorp recently reported earnings per share of $6.24, exceeding analysts' expectations and showcasing a return on equity of 16.25%.
• Analyst ratings for Credicorp have improved, with UBS Group and Citigroup both issuing "buy" ratings and increasing their price targets for the stock, indicating positive sentiment surrounding its performance.

Royal Bank of Canada grew its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,695,980 shares of the bank's stock after purchasing an additional 14,852 shares during the period. Royal Bank of Canada owned approximately 2.13% of Credicorp worth $315,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Credicorp by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,032,656 shares of the bank's stock valued at $564,559,000 after purchasing an additional 7,692 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Credicorp by 21.8% during the first quarter. Bank of Nova Scotia now owns 867,347 shares of the bank's stock valued at $161,465,000 after acquiring an additional 155,162 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Credicorp by 2.9% during the fourth quarter. Lazard Asset Management LLC now owns 747,720 shares of the bank's stock valued at $137,070,000 after acquiring an additional 20,785 shares during the period. Driehaus Capital Management LLC boosted its holdings in Credicorp by 13.4% in the first quarter. Driehaus Capital Management LLC now owns 574,504 shares of the bank's stock valued at $106,950,000 after acquiring an additional 68,011 shares during the last quarter. Finally, Northern Trust Corp increased its position in Credicorp by 27.1% in the first quarter. Northern Trust Corp now owns 557,245 shares of the bank's stock worth $103,737,000 after purchasing an additional 118,706 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded Credicorp from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. UBS Group restated a "buy" rating on shares of Credicorp in a research report on Monday, June 2nd. Finally, Citigroup boosted their price target on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $236.80.

Credicorp Trading Up 0.6%

Shares of BAP traded up $1.59 during mid-day trading on Wednesday, reaching $261.70. The company's stock had a trading volume of 446,328 shares, compared to its average volume of 351,529. The stock has a market cap of $20.81 billion, a PE ratio of 14.23, a P/E/G ratio of 0.71 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The company's fifty day moving average price is $238.70 and its two-hundred day moving average price is $210.69. Credicorp Ltd. has a 52 week low of $165.51 and a 52 week high of $263.42.

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

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.