Credicorp Ltd. $BAP Stock Sold by Matthews International Capital Management LLC

Matthews International Capital Management LLC reduced its stake in Credicorp Ltd. (NYSE:BAP) by 24.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,702 shares of the bank’s stock after selling 3,115 shares during the quarter. Credicorp comprises approximately 1.5% of Matthews International Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Matthews International Capital Management LLC’s holdings in Credicorp were worth $3,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. purchased a new stake in Credicorp during the 2nd quarter worth about $25,000. Quantbot Technologies LP acquired a new position in Credicorp in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in Credicorp in the 2nd quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Credicorp in the 1st quarter valued at about $40,000. Finally, GAMMA Investing LLC lifted its holdings in Credicorp by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 111 shares of the bank’s stock valued at $42,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

Shares of BAP stock opened at $367.94 on Wednesday. Credicorp Ltd. has a one year low of $230.45 and a one year high of $413.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $375.75 and a 200 day moving average price of $360.16. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.69 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Monday, November 9th. The bank reported $7.06 earnings per share for the quarter, missing analysts’ consensus estimates of $7.25 by ($0.19). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Credicorp had a return on equity of 19.49% and a net margin of 25.26%. Sell-side analysts anticipate that Credicorp Ltd. will post 29.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded shares of Credicorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. UBS Group boosted their price objective on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, November 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $431.80.

Credicorp Company Profile

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services. Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.