Swedbank AB Decreases Stake in Credicorp Ltd. $BAP

Key Points

• Swedbank AB reduced its stake in Credicorp Ltd. by 42.5% in Q2, now holding 20,300 shares valued at approximately $4.54 million.
• Several institutional investors, including SVB Wealth and Farther Finance Advisors, have recently initiated or increased their investments in Credicorp, with institutional ownership now at 89.81%.
• Equities analysts have varied ratings on Credicorp, with targets ranging up to $318, indicating a mixed sentiment towards the stock's potential performance.

Swedbank AB reduced its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 42.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,300 shares of the bank's stock after selling 15,000 shares during the period. Swedbank AB's holdings in Credicorp were worth $4,537,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Deltec Asset Management LLC lifted its holdings in shares of Credicorp by 4.3% in the 1st quarter. Deltec Asset Management LLC now owns 2,400 shares of the bank's stock worth $447,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp raised its position in Credicorp by 1.5% in the 1st quarter. Fifth Third Bancorp now owns 6,645 shares of the bank's stock valued at $1,237,000 after buying an additional 101 shares during the last quarter. National Pension Service raised its position in Credicorp by 0.7% in the 1st quarter. National Pension Service now owns 17,592 shares of the bank's stock valued at $3,275,000 after buying an additional 117 shares during the last quarter. Voya Investment Management LLC raised its position in Credicorp by 2.4% in the 1st quarter. Voya Investment Management LLC now owns 5,088 shares of the bank's stock valued at $947,000 after buying an additional 120 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Credicorp by 2.1% in the 1st quarter. Ritholtz Wealth Management now owns 9,202 shares of the bank's stock valued at $1,713,000 after buying an additional 188 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAP. HSBC lowered Credicorp from a "buy" rating to a "hold" rating and increased their price target for the company from $225.00 to $255.00 in a research report on Friday, September 5th. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and increased their price target for the company from $174.00 to $225.00 in a research report on Thursday, July 24th. UBS Group increased their price target on Credicorp from $257.00 to $318.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Citigroup increased their price target on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Credicorp currently has an average rating of "Hold" and a consensus price target of $250.00.

Credicorp Price Performance

Shares of BAP traded up $3.95 during trading hours on Monday, reaching $266.56. 222,324 shares of the company's stock traded hands, compared to its average volume of 352,146. The stock has a market cap of $21.20 billion, a PE ratio of 12.63, a price-to-earnings-growth 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 firm's 50 day simple moving average is $248.48 and its 200-day simple moving average is $218.00. Credicorp Ltd. has a 12 month low of $165.51 and a 12 month high of $280.88.

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

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.