Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in Credicorp Ltd. $BAP

Key Points

• Zurcher Kantonalbank trimmed its stake in Credicorp by 2.5% in Q4, selling 4,738 shares and finishing with 187,788 shares worth about $53.9 million (≈0.24% ownership).
• Several large institutions (MFS, Capital World Investors, Invesco, State Street, Pzena) increased their holdings and institutional investors now own roughly 89.81% of Credicorp's stock.
• Analysts have a “Moderate Buy” consensus with an average target of $297.60 while shares trade near $335.92; Credicorp reported Q results of $5.91 EPS, a 20.4% ROE, and a $31.7 billion market cap (P/E ~13.8).

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Credicorp Ltd. (NYSE:BAP - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,788 shares of the bank's stock after selling 4,738 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.24% of Credicorp worth $53,895,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BAP. Massachusetts Financial Services Co. MA grew its position in Credicorp by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank's stock valued at $808,985,000 after acquiring an additional 223,497 shares during the period. Capital World Investors purchased a new position in shares of Credicorp in the 3rd quarter worth about $434,014,000. Invesco Ltd. raised its holdings in shares of Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank's stock worth $359,320,000 after purchasing an additional 290,585 shares during the period. State Street Corp lifted its stake in shares of Credicorp by 5.8% in the 3rd quarter. State Street Corp now owns 1,267,553 shares of the bank's stock valued at $337,524,000 after purchasing an additional 70,017 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Credicorp by 2.5% in the 3rd quarter. Pzena Investment Management LLC now owns 1,053,056 shares of the bank's stock valued at $280,408,000 after purchasing an additional 25,339 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAP has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Credicorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Credicorp in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $297.60.

Credicorp Trading Up 1.2%

Shares of BAP opened at $335.92 on Tuesday. Credicorp Ltd. has a 12 month low of $183.51 and a 12 month high of $380.20. The stock's 50-day moving average is $338.48 and its two-hundred day moving average is $303.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. The stock has a market cap of $31.70 billion, a PE ratio of 13.82, a P/E/G ratio of 0.74 and a beta of 0.93.

Credicorp (NYSE:BAP - Get Free Report) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.43% and a net margin of 24.53%. Equities analysts forecast that Credicorp Ltd. will post 29.09 earnings per share for the current fiscal year.

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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