Mitsubishi UFJ Asset Management Co. Ltd. Has $18.88 Million Stock Holdings in Credicorp Ltd. $BAP

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Credicorp Ltd. (NYSE:BAP) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,885 shares of the bank’s stock after acquiring an additional 6,081 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Credicorp worth $18,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Asset Management Inc bought a new position in Credicorp in the third quarter valued at approximately $486,000. Compound Planning Inc. boosted its holdings in shares of Credicorp by 9.7% in the 3rd quarter. Compound Planning Inc. now owns 1,622 shares of the bank’s stock valued at $432,000 after buying an additional 143 shares during the last quarter. O Neil Global Advisors Inc. acquired a new position in Credicorp during the third quarter worth $408,000. Marks Group Wealth Management Inc acquired a new position in Credicorp during the third quarter worth $227,000. Finally, Lansforsakringar Fondforvaltning AB publ raised its position in Credicorp by 47.0% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 18,096 shares of the bank’s stock worth $4,819,000 after acquiring an additional 5,787 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BAP. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. raised their target price 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. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group raised their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Four research 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 company presently has an average rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Trading Down 2.3%

Shares of BAP stock opened at $347.17 on Monday. The firm has a 50 day moving average price of $327.96 and a two-hundred day moving average price of $284.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $27.61 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88. Credicorp Ltd. has a 12-month low of $165.51 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last posted its earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). The firm had revenue of $1.95 billion during 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%. As a group, analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current 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.