Bank of New York Mellon Corp Sells 34,821 Shares of Credicorp Ltd. (BAP)

Bank of New York Mellon Corp trimmed its position in Credicorp Ltd. (NYSE:BAP) by 29.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,978 shares of the bank’s stock after selling 34,821 shares during the period. Bank of New York Mellon Corp owned 0.10% of Credicorp worth $18,454,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in Credicorp in the second quarter worth $157,000. Victory Capital Management Inc. purchased a new stake in Credicorp in the second quarter worth $279,000. Eqis Capital Management Inc. purchased a new stake in Credicorp in the second quarter worth $408,000. Janney Montgomery Scott LLC grew its stake in shares of Credicorp by 14.8% in the second quarter. Janney Montgomery Scott LLC now owns 2,192 shares of the bank’s stock worth $493,000 after acquiring an additional 283 shares during the last quarter. Finally, Castleark Management LLC grew its stake in shares of Credicorp by 304.5% in the second quarter. Castleark Management LLC now owns 2,710 shares of the bank’s stock worth $610,000 after acquiring an additional 2,040 shares during the last quarter. 66.21% of the stock is currently owned by institutional investors.

Separately, UBS Group assumed coverage on Credicorp in a research note on Friday, October 26th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Credicorp presently has an average rating of “Hold” and an average price target of $252.00.

NYSE BAP opened at $219.29 on Monday. Credicorp Ltd. has a 12 month low of $189.69 and a 12 month high of $239.54. The firm has a market capitalization of $17.49 billion, a PE ratio of 13.93, a P/E/G ratio of 1.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.16.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 8th. The bank reported $3.85 EPS for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.15). Credicorp had a return on equity of 18.21% and a net margin of 25.82%. The company had revenue of $982.21 million during the quarter. As a group, equities analysts anticipate that Credicorp Ltd. will post 15.77 earnings per share for the current year.

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Credicorp Company Profile

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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Institutional Ownership by Quarter for Credicorp (NYSE:BAP)

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