Credicorp Ltd. $BAP Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in Credicorp Ltd. (NYSE:BAP) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,386 shares of the bank’s stock after selling 6,969 shares during the period. Van ECK Associates Corp owned 0.08% of Credicorp worth $16,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. MAI Capital Management raised its position in Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after acquiring an additional 159 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the second quarter valued at approximately $38,000. Spire Wealth Management purchased a new position in shares of Credicorp during the 3rd quarter worth approximately $42,000. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 66 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of Credicorp during the 3rd quarter worth approximately $59,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Trading Up 1.4%

NYSE BAP traded up $4.40 during mid-day trading on Friday, reaching $329.60. 59,235 shares of the stock were exchanged, compared to its average volume of 520,602. The stock has a market capitalization of $26.22 billion, a PE ratio of 13.56, a PEG ratio of 0.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $380.20. The business’s fifty day simple moving average is $336.52 and its 200 day simple moving average is $289.48.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.77 billion. On average, research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BAP shares. The Goldman Sachs Group upped their target price on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. boosted their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $297.60.

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.