VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Credicorp Ltd. $BAP

Key Points

• Virginia Retirement Systems acquired 9,900 shares of Credicorp, valued at approximately $3.86 million, during the second quarter. Institutional investors and hedge funds collectively own 89.81% of BAP.
• Analyst sentiment has improved, with UBS and Morgan Stanley among firms raising price targets and ratings. Credicorp holds a “Moderate Buy” consensus rating and an average target price of $418.40.
• Credicorp shares opened at $375.20, compared with a one-year range of $230.45 to $413.24; the company has a market capitalization of approximately $35.41 billion.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 9,900 shares of the bank's stock, valued at approximately $3,857,000.

Several other large investors also recently made changes to their positions in BAP. Pin Oak Investment Advisors Inc. acquired a new position in shares of Credicorp in the second quarter worth about $25,000. Quantbot Technologies LP acquired a new stake in shares of Credicorp during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Credicorp during the 2nd quarter valued at about $27,000. Brown Brothers Harriman & Co. acquired a new stake in Credicorp during the third quarter worth about $35,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings raised Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, September 3rd. UBS Group boosted their price objective on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and upped their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $418.40.

Credicorp Stock Performance

Shares of BAP opened at $375.20 on Thursday. The company has a 50-day moving average of $384.82 and a two-hundred day moving average of $356.70. The stock has a market cap of $35.41 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24.

About Credicorp

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

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