Edmond DE Rothschild Holding S.A. Takes Position in Credicorp Ltd. $BAP

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, HoldingsChannel reports. The firm acquired 3,010 shares of the bank’s stock, valued at approximately $1,173,000.

Several other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the 1st quarter worth about $78,000. Cetera Investment Advisers boosted its position in shares of Credicorp by 36.3% during the second quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after buying an additional 476 shares during the period. State Street Corp grew its holdings 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 in the last quarter. Nebula Research & Development LLC acquired a new stake in Credicorp in the 2nd quarter valued at approximately $355,000. Finally, Quantinno Capital Management LP lifted its stake in Credicorp by 24.7% in the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after acquiring an additional 1,083 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

NYSE:BAP opened at $371.16 on Friday. The stock has a market capitalization of $35.03 billion, a PE ratio of 13.75, a P/E/G ratio of 0.72 and a beta of 0.90. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The firm has a fifty day simple moving average of $385.15 and a 200 day simple moving average of $353.94. 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 posted its quarterly 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. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. On average, research analysts expect that Credicorp Ltd. will post 29.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BAP shares. 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 research report on Monday, June 15th. The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. UBS Group lifted their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 6th. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $418.40.

Insider Buying and Selling at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the company’s 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 sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.90% of the stock is owned by corporate 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.