Credicorp Ltd. (NYSE:BAP) Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in shares of Credicorp Ltd. (NYSE:BAP) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,962 shares of the bank’s stock after selling 330 shares during the period. Summit Global Investments’ holdings in Credicorp were worth $3,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its stake in Credicorp by 69.2% in the fourth quarter. CWM LLC now owns 225 shares of the bank’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Credicorp by 7.7% during the 4th quarter. Blue Trust Inc. now owns 1,396 shares of the bank’s stock worth $209,000 after acquiring an additional 100 shares during the period. Signaturefd LLC boosted its position in shares of Credicorp by 24.3% in the fourth quarter. Signaturefd LLC now owns 746 shares of the bank’s stock worth $112,000 after acquiring an additional 146 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Credicorp by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the bank’s stock valued at $276,000 after purchasing an additional 162 shares during the period. Finally, Fifth Third Bancorp increased its position in Credicorp by 2.1% during the third quarter. Fifth Third Bancorp now owns 8,964 shares of the bank’s stock worth $1,147,000 after purchasing an additional 185 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BAP shares. UBS Group lowered their price objective on shares of Credicorp from $192.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on Credicorp from $190.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.73.

Credicorp Trading Up 2.4 %

Shares of Credicorp stock traded up $3.92 during trading hours on Friday, hitting $168.64. The company’s stock had a trading volume of 212,933 shares, compared to its average volume of 235,545. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $13.41 billion, a PE ratio of 10.78, a P/E/G ratio of 0.56 and a beta of 1.12. The business has a fifty day moving average of $169.72 and a 200 day moving average of $150.42. Credicorp Ltd. has a 1-year low of $116.42 and a 1-year high of $179.53.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, February 8th. The bank reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.02). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Credicorp had a net margin of 20.17% and a return on equity of 14.68%. As a group, equities analysts forecast that Credicorp Ltd. will post 18.4 EPS for the current year.

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.