Teacher Retirement System of Texas Increases Holdings in Credicorp Ltd. $BAP

Teacher Retirement System of Texas raised its stake in Credicorp Ltd. (NYSE:BAP) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,075 shares of the bank’s stock after buying an additional 1,556 shares during the quarter. Teacher Retirement System of Texas’ holdings in Credicorp were worth $59,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Simplicity Wealth LLC acquired a new position in Credicorp in the 3rd quarter valued at about $312,000. Wealth Enhancement Advisory Services LLC purchased a new position in Credicorp in the third quarter worth approximately $215,000. Massachusetts Financial Services Co. MA increased its stake in Credicorp by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock worth $808,985,000 after acquiring an additional 223,497 shares during the last quarter. Ritholtz Wealth Management raised its position in Credicorp by 5.4% in the third quarter. Ritholtz Wealth Management now owns 9,484 shares of the bank’s stock valued at $2,526,000 after purchasing an additional 487 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Credicorp by 17.4% during the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after purchasing an additional 4,140 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAP has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. The Goldman Sachs Group lifted their price objective on Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Credicorp Price Performance

Shares of NYSE BAP opened at $340.31 on Friday. 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 company has a market cap of $27.07 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The stock’s 50-day moving average is $283.39 and its two-hundred day moving average is $262.80. Credicorp Ltd. has a 1-year low of $165.51 and a 1-year high of $341.55.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. Credicorp had a return on equity of 19.50% and a net margin of 23.59%. Analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Credicorp Company Profile

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.