Swedbank AB Sells 7,600 Shares of Credicorp Ltd. $BAP

Key Points

• Swedbank AB reduced its stake in Credicorp Ltd. by 17.7% in the first quarter, now holding 35,300 shares valued at around $6.57 million.
• Credicorp's stock has received mixed ratings from analysts, with UBS maintaining a "buy" rating, while HSBC downgraded it to "hold," though it increased the price target to $255.00.
• Credicorp reported earnings of $6.24 per share for the last quarter, exceeding analyst expectations and generating revenue of $1.58 billion.

Swedbank AB reduced its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,300 shares of the bank's stock after selling 7,600 shares during the quarter. Swedbank AB's holdings in Credicorp were worth $6,571,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. SVB Wealth LLC bought a new position in shares of Credicorp in the first quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Credicorp in the fourth quarter worth about $40,000. Cullen Frost Bankers Inc. purchased a new position in Credicorp during the first quarter valued at approximately $40,000. 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 valued at $44,000 after acquiring an additional 217 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Credicorp during the first quarter valued at approximately $78,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAP. UBS Group boosted their price objective on shares of Credicorp from $257.00 to $318.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Hsbc Global Res raised shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $250.00.

Credicorp Price Performance

BAP traded down $0.08 during trading on Friday, reaching $261.83. 512,575 shares of the company traded hands, compared to its average volume of 347,015. 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 12-month low of $165.51 and a 12-month high of $280.88. The firm has a fifty day simple moving average of $248.48 and a 200 day simple moving average of $217.51. The company has a market cap of $20.83 billion, a P/E ratio of 12.41, a PEG ratio of 0.71 and a beta of 1.12.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results 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. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

About Credicorp

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.