Carrhae Capital LLP Takes Position in Credicorp Ltd. $BAP

Carrhae Capital LLP purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 168,399 shares of the bank’s stock, valued at approximately $48,331,000. Credicorp makes up 1.8% of Carrhae Capital LLP’s holdings, making the stock its 16th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in Credicorp during the 3rd quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Credicorp during the 4th quarter valued at $46,000. Raymond James Financial Inc. acquired a new stake in shares of Credicorp during the 2nd quarter worth $38,000. Quarry LP acquired a new stake in shares of Credicorp during the 3rd quarter worth $46,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Credicorp by 37.1% in the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after purchasing an additional 66 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAP shares. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and raised their target price for the company from $320.00 to $350.00 in a report on Tuesday. Weiss Ratings upgraded shares of Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 15th. UBS Group upped their price target on shares of Credicorp from $318.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their price target on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.60.

Credicorp Trading Down 3.1%

Shares of Credicorp stock opened at $333.30 on Friday. The firm’s 50 day moving average is $330.67 and its 200 day moving average is $313.68. The firm has a market capitalization of $31.46 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87. Credicorp Ltd. has a 1 year low of $201.33 and a 1 year high of $380.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The business had revenue of $1.81 billion during the quarter. Equities research 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.