Credicorp Ltd. $BAP Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. cut its stake in Credicorp Ltd. (NYSE:BAP) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,776 shares of the bank’s stock after selling 5,712 shares during the quarter. Thornburg Investment Management Inc. owned about 0.07% of Credicorp worth $13,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BAP. One Wealth Advisors LLC boosted its holdings in Credicorp by 2.5% in the 3rd quarter. One Wealth Advisors LLC now owns 1,781 shares of the bank’s stock valued at $474,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Credicorp by 1.6% during the 3rd quarter. Blue Trust Inc. now owns 2,843 shares of the bank’s stock worth $757,000 after buying an additional 45 shares during the last quarter. Rhumbline Advisers raised its position in shares of Credicorp by 0.4% during the 3rd quarter. Rhumbline Advisers now owns 14,412 shares of the bank’s stock valued at $3,838,000 after buying an additional 59 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Credicorp by 37.1% in the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after acquiring an additional 66 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Credicorp by 33.5% in the second quarter. First Horizon Advisors Inc. now owns 283 shares of the bank’s stock worth $63,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

BAP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group increased their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Trading Up 0.7%

NYSE BAP opened at $354.96 on Thursday. 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 firm has a market cap of $28.23 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.80 and a beta of 0.87. The firm has a 50 day simple moving average of $325.23 and a 200-day simple moving average of $282.99. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20.

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

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.