New York State Common Retirement Fund Raises Stake in Credicorp Ltd. $BAP

New York State Common Retirement Fund increased its stake in Credicorp Ltd. (NYSE:BAP) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,419 shares of the bank’s stock after purchasing an additional 4,730 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Credicorp worth $14,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BAP. Summitry LLC purchased a new position in Credicorp in the 2nd quarter valued at approximately $257,000. Acadian Asset Management LLC boosted its position in Credicorp by 46.6% during the second quarter. Acadian Asset Management LLC now owns 464,098 shares of the bank’s stock worth $103,698,000 after purchasing an additional 147,573 shares in the last quarter. Carrhae Capital LLP grew its holdings in Credicorp by 7.5% in the second quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after purchasing an additional 14,931 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Credicorp in the second quarter valued at $418,000. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Credicorp by 7.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 19,391 shares of the bank’s stock valued at $4,335,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

Shares of BAP opened at $262.94 on Thursday. Credicorp Ltd. has a 1 year low of $165.51 and a 1 year high of $280.88. The company’s 50 day simple moving average is $257.81 and its 200 day simple moving average is $243.04. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. On average, sell-side analysts predict that Credicorp Ltd. will post 21.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAP. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their price target on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating and raised their price objective for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. UBS Group upped their target price on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Citigroup increased their target price on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and a consensus price target of $265.17.

Credicorp Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.