Bank of New York Mellon Corp Invests $54.06 Million in Credicorp Ltd. $BAP

Bank of New York Mellon Corp bought a new position in shares of Credicorp Ltd. (NYSE:BAP) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 138,775 shares of the bank’s stock, valued at approximately $54,064,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp in the 3rd quarter valued at approximately $35,000. Raymond James Financial Inc. acquired a new position in Credicorp during the second quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Credicorp during the first quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new stake in Credicorp in the fourth quarter valued at approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Credicorp in the fourth quarter valued at approximately $46,000. 89.81% of the stock is owned by institutional investors.

Credicorp Stock Performance

Shares of BAP stock opened at $381.74 on Thursday. Credicorp Ltd. has a 12 month low of $230.45 and a 12 month high of $413.24. The company’s fifty day simple moving average is $385.93 and its 200-day simple moving average is $354.37. The firm has a market cap of $36.03 billion, a PE ratio of 14.14, a P/E/G ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Credicorp (NYSE:BAP) last released its earnings results on Friday, August 14th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Equities research analysts expect that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BAP. The Goldman Sachs Group lifted their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. UBS Group upped their price objective on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $418.40.

Insider Activity at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is currently owned by company insiders.

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.