625,144 Shares in Credicorp Ltd. $BAP Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in Credicorp Ltd. (NYSE:BAP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 625,144 shares of the bank’s stock, valued at approximately $243,544,000. Credicorp makes up approximately 0.7% of William Blair Investment Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. bought a new position in shares of Credicorp during the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter valued at $38,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Credicorp in the 1st quarter valued at $40,000. Kestra Advisory Services LLC bought a new stake in shares of Credicorp in the 4th quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credicorp during the 4th quarter valued at $46,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.90% of the stock is currently owned by corporate insiders.

Credicorp Trading Up 2.2%

Shares of Credicorp stock opened at $378.51 on Friday. The company has a market capitalization of $35.72 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The stock has a fifty day simple moving average of $385.34 and a 200 day simple moving average of $354.11. Credicorp Ltd. has a 12-month low of $230.45 and a 12-month high of $413.24. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.31 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. On average, sell-side analysts anticipate that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on BAP shares. UBS Group increased their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Weiss Ratings downgraded Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Credicorp has an average rating of “Moderate Buy” and a consensus price target of $418.40.

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.