Credicorp Ltd. $BAP Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in Credicorp Ltd. (NYSE:BAP) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 165,068 shares of the bank’s stock after selling 2,854 shares during the period. State of New Jersey Common Pension Fund D owned about 0.21% of Credicorp worth $36,896,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Credicorp by 37.1% in the first quarter. Cerity Partners LLC now owns 5,545 shares of the bank’s stock worth $1,032,000 after acquiring an additional 1,500 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Credicorp during the 1st quarter worth $744,000. Paragon Capital Management Ltd purchased a new stake in shares of Credicorp during the 2nd quarter worth $233,000. Penserra Capital Management LLC purchased a new stake in shares of Credicorp during the 1st quarter worth $122,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Credicorp by 8.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 10,876 shares of the bank’s stock worth $2,025,000 after purchasing an additional 837 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of NYSE:BAP opened at $257.51 on Friday. The company has a 50-day simple moving average of $259.87 and a 200-day simple moving average of $230.15. Credicorp Ltd. has a one year low of $165.51 and a one year high of $280.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.70 and a beta of 1.11.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.51. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.52 billion. On average, analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BAP shares. Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Credicorp from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating and boosted their price target for the company from $225.00 to $255.00 in a research report on Friday, September 5th. UBS Group boosted their price target on shares of Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Citigroup boosted their price target on shares of Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

About Credicorp

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.