Cape Ann Asset Management Ltd Has $29.16 Million Position in Credicorp Ltd. $BAP

Cape Ann Asset Management Ltd lowered its holdings in shares of Credicorp Ltd. (NYSE:BAP) by 29.4% during the 3rd quarter, Holdings Channel reports. The fund owned 109,497 shares of the bank’s stock after selling 45,600 shares during the period. Credicorp makes up approximately 9.8% of Cape Ann Asset Management Ltd’s portfolio, making the stock its 3rd largest holding. Cape Ann Asset Management Ltd’s holdings in Credicorp were worth $29,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of BAP. MAI Capital Management increased its holdings in shares of Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares during the period. Raymond James Financial Inc. bought a new position in Credicorp in the 2nd quarter valued at about $38,000. Spire Wealth Management acquired a new position in Credicorp during the 3rd quarter valued at about $42,000. Smartleaf Asset Management LLC raised its position in shares of Credicorp by 37.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after buying an additional 66 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Credicorp in the 3rd quarter worth approximately $59,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. The Goldman Sachs Group lifted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $297.60.

Credicorp Trading Up 0.1%

Shares of NYSE:BAP opened at $349.88 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $27.83 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.79 and a beta of 0.87. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $380.20. The company has a 50 day moving average price of $320.92 and a 200 day moving average price of $280.52.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. On average, research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Company 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.