Allspring Global Investments Holdings LLC Buys 75,487 Shares of Credicorp Ltd. $BAP

Allspring Global Investments Holdings LLC boosted its stake in shares of Credicorp Ltd. (NYSE:BAP) by 171.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,492 shares of the bank’s stock after acquiring an additional 75,487 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Credicorp were worth $26,603,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BAP. SVB Wealth LLC bought a new stake in Credicorp during the first quarter worth approximately $35,000. Cullen Frost Bankers Inc. bought a new position in shares of Credicorp during the first quarter valued at approximately $40,000. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 217 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Credicorp during the first quarter valued at approximately $78,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Credicorp during the first quarter valued at approximately $88,000. 89.81% of the stock is owned by institutional investors.

Credicorp Stock Down 1.3%

Shares of NYSE BAP opened at $251.71 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.69 and a beta of 1.11. The stock has a 50 day moving average price of $259.33 and a 200 day moving average price of $227.16. Credicorp Ltd. has a 52-week low of $165.51 and a 52-week high of $280.88.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.51. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a return on equity of 17.94% and a net margin of 23.22%. Sell-side analysts expect that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BAP shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Credicorp in a research note on Tuesday. Citigroup upped their target price on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. HSBC cut Credicorp from a “buy” rating to a “hold” rating and upped their target price for the company from $225.00 to $255.00 in a research note on Friday, September 5th. Finally, Hsbc Global Res raised Credicorp to a “hold” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Credicorp Company Profile

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.