Trillium Asset Management LLC Makes New $6.07 Million Investment in Credicorp Ltd. $BAP

Key Points

• Trillium Asset Management acquired 15,569 Credicorp shares valued at approximately $6.07 million during the second quarter. Institutional investors and hedge funds collectively own 89.81% of the stock.
• Analysts maintain a generally positive outlook, with Credicorp receiving a “Moderate Buy” consensus rating and an average price target of $418.40. Recent upgrades came from HSBC, Morgan Stanley, and UBS, while JPMorgan downgraded the stock to neutral.
• Credicorp recently exceeded quarterly expectations, reporting $7.33 in earnings per share versus a $7.31 estimate and $1.96 billion in revenue against expectations of $1.82 billion. Shares opened at $371.16, while the stock’s 12-month range is $230.45 to $413.24.

Trillium Asset Management LLC acquired a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,569 shares of the bank's stock, valued at approximately $6,065,000.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the 3rd quarter worth $35,000. Raymond James Financial Inc. acquired a new stake in Credicorp in the 2nd quarter valued at about $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Credicorp in the 1st quarter valued at about $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp in the 4th quarter valued at about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp in the 4th quarter valued at about $46,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of recent research reports. HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and upped their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Morgan Stanley upgraded shares of Credicorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. cut shares of Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 price target for the company. in a report on Monday, June 15th. The Goldman Sachs Group increased their price objective on shares of Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Finally, UBS Group raised their price objective on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $418.40.

Credicorp Trading Up 0.6%

Shares of Credicorp stock opened at $371.16 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $385.15 and a 200-day simple moving average of $353.94. The stock has a market cap of $35.03 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.72 and a beta of 0.90. Credicorp Ltd. has a 12-month low of $230.45 and a 12-month high of $413.24.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate of $7.31 by $0.02. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. On average, equities analysts forecast that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Insider Activity

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares of the company's stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.90% of the company's stock.

About Credicorp

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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