Wasatch Advisors LP Buys 3,535 Shares of Credicorp Ltd. $BAP

Key Points

• Wasatch Advisors increased its Credicorp stake by 65.9% in the second quarter, purchasing 3,535 additional shares and bringing its total holdings to 8,896 shares valued at approximately $3.47 million.
• Institutional investors own 89.81% of Credicorp, while company insiders own 15.90%. However, the CEO and CFO recently sold shares, reducing their respective holdings by 32.39% and 38.08%.
• Credicorp shares opened at $373.17, below the analyst consensus price target of $384.33. Analysts maintain a “Moderate Buy” consensus, with five Buy ratings and three Holds.

Wasatch Advisors LP raised its stake in Credicorp Ltd. (NYSE:BAP - Free Report) by 65.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,896 shares of the bank's stock after acquiring an additional 3,535 shares during the period. Wasatch Advisors LP's holdings in Credicorp were worth $3,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new position in Credicorp during the 3rd quarter valued at about $35,000. Raymond James Financial Inc. bought a new position in Credicorp in the 2nd quarter valued at $38,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Credicorp during the first quarter worth $40,000. Kestra Advisory Services LLC bought a new position in shares of Credicorp in the fourth quarter valued at about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp during the 4th quarter worth about $46,000. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company's stock.

Credicorp Price Performance

Shares of BAP opened at $373.17 on Thursday. The company has a 50 day moving average of $380.95 and a 200-day moving average of $353.10. 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 stock has a market capitalization of $35.22 billion, a P/E ratio of 14.39, a P/E/G ratio of 0.82 and a beta of 0.90. Credicorp Ltd. has a twelve month low of $230.45 and a twelve month high of $413.24.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Credicorp from $329.00 to $374.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. UBS Group increased their price target on Credicorp from $408.00 to $412.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price on the stock. in a report on Monday, June 15th. Weiss Ratings upgraded shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 6th. Finally, HSBC raised shares of Credicorp from a "hold" rating to a "buy" rating and boosted their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Credicorp presently has an average rating of "Moderate Buy" and a consensus target price of $384.33.

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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