Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 18,712 Credicorp Ltd. $BAP

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,712 shares of the bank’s stock, valued at approximately $7,290,000.

Other institutional investors have also modified their holdings of the company. TD Asset Management Inc grew its position in shares of Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after buying an additional 29 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Credicorp by 21.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after acquiring an additional 32 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Credicorp by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after acquiring an additional 42 shares in the last quarter. Fiduciary Trust Co boosted its stake in Credicorp by 1.8% in the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock valued at $759,000 after acquiring an additional 50 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Credicorp by 16.2% during the fourth quarter. CWM LLC now owns 394 shares of the bank’s stock worth $113,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. The trade was a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on BAP shares. Weiss Ratings cut Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, August 20th. The Goldman Sachs Group upped their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, UBS Group increased their price objective on Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Four equities 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, Credicorp presently has a consensus rating of “Moderate Buy” and an average price target of $418.40.

Credicorp Stock Down 0.4%

BAP opened at $381.74 on Thursday. The business has a 50 day moving average price of $385.93 and a two-hundred day moving average price of $354.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company 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. Credicorp Ltd. has a 52 week low of $230.45 and a 52 week high of $413.24.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. As a group, research analysts anticipate that Credicorp Ltd. will post 29.41 EPS for the current year.

Credicorp 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.