Hsbc Holdings PLC Purchases New Shares in Credicorp Ltd. $BAP

Hsbc Holdings PLC purchased a new position in shares of Credicorp Ltd. (NYSE:BAP) during the second quarter, HoldingsChannel reports. The fund purchased 216,855 shares of the bank’s stock, valued at approximately $84,497,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. TD Asset Management Inc boosted its holdings in 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 purchasing an additional 29 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Credicorp by 21.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after purchasing an additional 32 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Credicorp by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after purchasing an additional 42 shares during the period. Fiduciary Trust Co raised its position in shares of 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 buying an additional 50 shares in the last quarter. Finally, CWM LLC raised its position in shares of Credicorp by 16.2% in the fourth quarter. CWM LLC now owns 394 shares of the bank’s stock valued at $113,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

NYSE BAP opened at $381.74 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $36.03 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.75 and a beta of 0.90. The firm’s 50 day simple moving average is $385.93 and its 200 day simple moving average is $354.37. Credicorp Ltd. has a 1 year low of $230.45 and a 1 year high of $413.24.

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

Insider Buying and Selling at Credicorp

In other Credicorp news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the sale, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BAP shares. HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a report on Monday, June 15th. 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. UBS Group increased their target price on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings cut Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, August 20th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and a consensus target price of $418.40.

About Credicorp

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.