Korea Investment CORP lowered its holdings in Credicorp Ltd. (NYSE:BAP) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,600 shares of the bank’s stock after selling 5,900 shares during the quarter. Korea Investment CORP owned 0.07% of Credicorp worth $12,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in Credicorp during the second quarter valued at $157,000. American International Group Inc. purchased a new stake in Credicorp during the third quarter valued at $260,000. Atria Investments LLC purchased a new stake in Credicorp during the third quarter valued at $272,000. Victory Capital Management Inc. purchased a new stake in Credicorp during the second quarter valued at $279,000. Finally, Fulton Bank N.A. purchased a new stake in Credicorp during the third quarter valued at $403,000. Hedge funds and other institutional investors own 66.21% of the company’s stock.
NYSE:BAP opened at $219.29 on Friday. Credicorp Ltd. has a 52-week low of $189.69 and a 52-week high of $239.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.32 and a beta of 0.79.
Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, November 8th. The bank reported $3.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.00 by ($0.15). Credicorp had a net margin of 25.82% and a return on equity of 18.21%. The company had revenue of $982.21 million for the quarter. Equities research analysts predict that Credicorp Ltd. will post 15.77 EPS for the current year.
Separately, UBS Group began coverage on Credicorp in a research report on Friday, October 26th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $252.00.
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Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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