LSV Asset Management Buys 8,983 Shares of Credicorp Ltd. $BAP

LSV Asset Management grew its stake in Credicorp Ltd. (NYSE:BAP) by 11.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,500 shares of the bank’s stock after buying an additional 8,983 shares during the period. LSV Asset Management owned 0.11% of Credicorp worth $23,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in Credicorp by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after purchasing an additional 223,497 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Credicorp by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after purchasing an additional 67,249 shares during the last quarter. State Street Corp increased its position in shares of Credicorp by 1.6% during the second quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after buying an additional 19,361 shares during the period. Bank of Nova Scotia raised its stake in Credicorp by 17.1% during the second quarter. Bank of Nova Scotia now owns 1,015,409 shares of the bank’s stock worth $226,964,000 after buying an additional 148,062 shares during the last quarter. Finally, ARGA Investment Management LP raised its stake in Credicorp by 1.3% during the third quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock worth $185,935,000 after buying an additional 8,758 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. The Goldman Sachs Group upped their target price on Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.20.

Credicorp Stock Performance

Shares of Credicorp stock opened at $329.36 on Friday. The business has a 50-day simple moving average of $314.46 and a 200 day simple moving average of $276.89. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $26.20 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.75 and a beta of 0.87.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, February 12th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. On average, research analysts anticipate that Credicorp Ltd. will post 21.9 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.