Convergence Financial LLC Purchases New Shares in Credicorp Ltd. $BAP

Convergence Financial LLC purchased a new stake in Credicorp Ltd. (NYSE:BAP) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,746 shares of the bank’s stock, valued at approximately $788,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors purchased a new stake in Credicorp in the 3rd quarter valued at $434,014,000. Invesco Ltd. raised its position in Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after buying an additional 290,585 shares during the last quarter. State Street Corp raised its position in Credicorp by 5.8% in the 3rd quarter. State Street Corp now owns 1,267,553 shares of the bank’s stock valued at $337,524,000 after buying an additional 70,017 shares during the last quarter. Pzena Investment Management LLC raised its position in Credicorp by 1.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after buying an additional 15,886 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in Credicorp by 1.5% in the 3rd quarter. Bank of Nova Scotia now owns 1,030,687 shares of the bank’s stock valued at $274,451,000 after buying an additional 15,278 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Trading Down 0.4%

Shares of Credicorp stock opened at $326.27 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $30.79 billion, a PE ratio of 12.58, a P/E/G ratio of 0.71 and a beta of 0.89. Credicorp Ltd. has a 1 year low of $209.46 and a 1 year high of $380.20. The stock has a fifty day moving average price of $332.77 and a 200-day moving average price of $319.25.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. Equities research analysts anticipate that Credicorp Ltd. will post 29.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BAP shares. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. raised their target price on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group raised their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. UBS Group raised their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $356.40.

Insider Buying and Selling at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.90% of the company’s stock.

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.