Pzena Investment Management LLC Has $280.41 Million Position in Credicorp Ltd. $BAP

Pzena Investment Management LLC raised its position in Credicorp Ltd. (NYSE:BAP) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,053,056 shares of the bank’s stock after acquiring an additional 25,339 shares during the period. Pzena Investment Management LLC owned about 1.32% of Credicorp worth $280,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAP. Massachusetts Financial Services Co. MA grew its stake in shares of Credicorp by 7.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after purchasing an additional 223,497 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Credicorp by 4.2% during the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after acquiring an additional 67,249 shares during the period. State Street Corp boosted its stake in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after purchasing an additional 19,361 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Credicorp by 17.1% in the 2nd quarter. Bank of Nova Scotia now owns 1,015,409 shares of the bank’s stock worth $226,964,000 after purchasing an additional 148,062 shares during the last quarter. Finally, ARGA Investment Management LP increased its position in shares of Credicorp by 1.3% during the 3rd quarter. ARGA Investment Management LP now owns 698,267 shares of the bank’s stock worth $185,935,000 after purchasing an additional 8,758 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BAP. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. The Goldman Sachs Group lifted their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Price Performance

BAP opened at $345.84 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $27.51 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The company’s 50 day simple moving average is $318.21 and its 200-day simple moving average is $279.29. Credicorp Ltd. has a one year low of $165.51 and a one year high of $380.20.

Credicorp (NYSE:BAP) last posted its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing the consensus estimate of $6.61 by ($0.73). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. Sell-side analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share 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.