Norges Bank Purchases New Stake in Credicorp Ltd. $BAP

Norges Bank purchased a new stake in Credicorp Ltd. (NYSE:BAP) during the fourth quarter, HoldingsChannel reports. The firm purchased 525,485 shares of the bank’s stock, valued at approximately $150,814,000.

A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the 1st quarter worth $78,000. Cetera Investment Advisers increased its position in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after buying an additional 476 shares during the period. State Street Corp increased its position in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after buying an additional 19,361 shares during the period. Nebula Research & Development LLC bought a new position in Credicorp during the 2nd quarter worth $355,000. Finally, Quantinno Capital Management LP increased its position in Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after buying an additional 1,083 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

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

Credicorp Stock Down 4.4%

Shares of NYSE BAP opened at $328.74 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp Ltd. has a 52 week low of $209.46 and a 52 week high of $380.20. The stock has a market capitalization of $31.03 billion, a P/E ratio of 12.67, a PEG ratio of 0.75 and a beta of 0.89. The stock’s fifty day moving average is $332.85 and its 200 day moving average is $318.75.

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

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.90% of the company’s stock.

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.