Swedbank AB Buys 14,142 Shares of Credicorp Ltd. $BAP

Key Points

• Swedbank AB boosted its Credicorp stake by 33.3% in the fourth quarter, buying 14,142 additional shares and bringing its total holdings to 56,602 shares valued at about $16.25 million.
• Other institutional investors also added to their positions, and institutional ownership now stands at 89.81% of Credicorp’s stock.
• Analysts remain mixed but generally positive: Credicorp has a “Moderate Buy” consensus rating with an average price target of $315.60, while shares recently traded at $330.60 after the company reported strong quarterly results.

Swedbank AB increased its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 33.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,602 shares of the bank's stock after purchasing an additional 14,142 shares during the period. Swedbank AB owned 0.07% of Credicorp worth $16,245,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Credicorp by 42.2% during the 3rd quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank's stock worth $77,534,000 after acquiring an additional 86,340 shares during the period. Sovran Advisors LLC acquired a new stake in Credicorp during the 4th quarter worth $1,358,000. Nordea Investment Management AB grew its holdings in Credicorp by 17.4% during the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank's stock worth $7,479,000 after acquiring an additional 4,140 shares during the period. Asset Management One Co. Ltd. grew its holdings in Credicorp by 19.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank's stock worth $3,333,000 after acquiring an additional 2,023 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Credicorp by 25.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank's stock worth $77,551,000 after acquiring an additional 58,690 shares during the period. Institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BAP shares. UBS Group lifted their target price on shares of Credicorp from $318.00 to $408.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. The Goldman Sachs Group lifted their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Finally, Zacks Research lowered shares of Credicorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Credicorp presently has a consensus rating of "Moderate Buy" and an average price target of $315.60.

Credicorp Price Performance

Shares of BAP stock opened at $330.60 on Friday. Credicorp Ltd. has a 12-month low of $193.13 and a 12-month high of $380.20. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.72 and a beta of 0.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $334.47 and a 200-day moving average of $308.91.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. The company had revenue of $1.81 billion during the quarter. On average, equities research analysts forecast that Credicorp Ltd. will post 29.09 earnings per share for the current year.

Credicorp Company Profile

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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