Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 94,288 Credicorp Ltd. $BAP

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Credicorp Ltd. (NYSE:BAP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,288 shares of the bank’s stock, valued at approximately $36,733,000.

Other hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in shares of Credicorp during the third quarter valued at $35,000. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Credicorp during the 1st quarter worth about $40,000. Kestra Advisory Services LLC acquired a new stake in shares of Credicorp during the 4th quarter worth about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credicorp during the 4th quarter worth about $46,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research report on Monday, June 15th. Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, August 6th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Finally, UBS Group increased their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average target price of $406.20.

Insiders Place Their Bets

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.90% of the stock is owned by company insiders.

Credicorp Trading Up 0.0%

BAP opened at $368.47 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $34.78 billion, a PE ratio of 13.65, a PEG ratio of 0.72 and a beta of 0.90. Credicorp Ltd. has a 1-year low of $230.45 and a 1-year high of $413.24. The firm has a 50-day moving average price of $385.10 and a two-hundred day moving average price of $353.84.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, August 13th. The bank reported $7.33 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. As a group, equities analysts anticipate that Credicorp Ltd. will post 29.41 earnings per share for the current fiscal year.

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.