Nordea Investment Management AB Lowers Position in Credicorp Ltd. $BAP

Nordea Investment Management AB reduced its stake in Credicorp Ltd. (NYSE:BAP) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,813 shares of the bank’s stock after selling 285 shares during the quarter. Nordea Investment Management AB’s holdings in Credicorp were worth $5,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. National Pension Service raised its position in Credicorp by 0.7% in the 1st quarter. National Pension Service now owns 17,592 shares of the bank’s stock valued at $3,275,000 after buying an additional 117 shares during the last quarter. Voya Investment Management LLC raised its position in Credicorp by 2.4% in the 1st quarter. Voya Investment Management LLC now owns 5,088 shares of the bank’s stock valued at $947,000 after buying an additional 120 shares during the last quarter. SVB Wealth LLC purchased a new stake in Credicorp in the 1st quarter valued at $35,000. KLP Kapitalforvaltning AS raised its position in Credicorp by 1.0% in the 1st quarter. KLP Kapitalforvaltning AS now owns 19,629 shares of the bank’s stock valued at $3,654,000 after buying an additional 200 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Credicorp in the 1st quarter valued at $40,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Trading Down 0.0%

Shares of BAP opened at $253.50 on Wednesday. The business has a 50-day moving average of $259.55 and a 200 day moving average of $228.78. Credicorp Ltd. has a fifty-two week low of $165.51 and a fifty-two week high of $280.88. The firm has a market cap of $20.16 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. As a group, research analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BAP. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Credicorp in a research report on Tuesday, October 14th. Citigroup raised their target price on Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Hsbc Global Res raised Credicorp to a “hold” rating in a research report on Friday, September 5th. Finally, UBS Group raised their target price on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $250.00.

Credicorp Company 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.