Pzena Investment Management LLC Boosts Stake in Credicorp Ltd. $BAP

Pzena Investment Management LLC increased its position in Credicorp Ltd. (NYSE:BAP) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,068,942 shares of the bank’s stock after purchasing an additional 15,886 shares during the period. Pzena Investment Management LLC owned 1.34% of Credicorp worth $306,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Credicorp in the 3rd quarter valued at about $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp in the 2nd quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Credicorp in the 4th quarter valued at about $46,000. Quarry LP purchased a new stake in shares of Credicorp in the 3rd quarter valued at about $46,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Credicorp by 37.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after purchasing an additional 66 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAP. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $320.00 to $350.00 in a research report on Tuesday. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 15th. Finally, UBS Group boosted their price target on Credicorp from $318.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $334.60.

Credicorp Stock Performance

NYSE BAP opened at $342.89 on Friday. The stock has a market capitalization of $32.36 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.75 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $330.76 and its two-hundred day moving average is $313.54. Credicorp Ltd. has a 12-month low of $199.78 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. Research analysts expect that Credicorp Ltd. will post 29.09 EPS for the current year.

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.