Bank of New York Mellon Corp Sells 61,572 Shares of Credicorp Ltd. $BAP

Bank of New York Mellon Corp reduced its holdings in Credicorp Ltd. (NYSE:BAP) by 25.0% in the 2nd quarter, Holdings Channel reports. The fund owned 184,844 shares of the bank’s stock after selling 61,572 shares during the quarter. Bank of New York Mellon Corp’s holdings in Credicorp were worth $41,316,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Royal Bank of Canada grew its position in shares of Credicorp by 0.9% in the 1st quarter. Royal Bank of Canada now owns 1,695,980 shares of the bank’s stock valued at $315,724,000 after purchasing an additional 14,852 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Credicorp by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,343,531 shares of the bank’s stock valued at $250,112,000 after buying an additional 13,592 shares in the last quarter. Bank of Nova Scotia lifted its stake in Credicorp by 21.8% in the first quarter. Bank of Nova Scotia now owns 867,347 shares of the bank’s stock valued at $161,465,000 after buying an additional 155,162 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Credicorp by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 781,374 shares of the bank’s stock valued at $145,461,000 after buying an additional 4,527 shares during the period. Finally, Driehaus Capital Management LLC increased its position in shares of Credicorp by 13.4% during the first quarter. Driehaus Capital Management LLC now owns 574,504 shares of the bank’s stock worth $106,950,000 after acquiring an additional 68,011 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Credicorp in a research report on Tuesday, October 14th. Wall Street Zen raised Credicorp from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. UBS Group upped their price objective on Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. The Goldman Sachs Group upgraded Credicorp from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Finally, Citigroup boosted their target price on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.20.

Credicorp Stock Up 1.6%

BAP stock opened at $262.33 on Thursday. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.71 and a beta of 1.09. Credicorp Ltd. has a twelve month low of $165.51 and a twelve month high of $280.88. The business has a 50 day moving average price of $261.21 and a two-hundred day moving average price of $237.65. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, beating the consensus estimate of $5.73 by $0.51. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a return on equity of 17.94% and a net margin of 23.22%. Analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.