Price T Rowe Associates Inc. MD lessened its holdings in shares of Credicorp Ltd. (NYSE:BAP – Get Rating) by 40.2% during the 3rd quarter, Holdings Channel reports. The firm owned 526,793 shares of the bank’s stock after selling 354,099 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Credicorp were worth $64,692,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Credicorp during the first quarter worth approximately $1,340,000. PNC Financial Services Group Inc. increased its stake in shares of Credicorp by 20.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,040 shares of the bank’s stock worth $179,000 after buying an additional 173 shares during the period. Rhumbline Advisers purchased a new stake in shares of Credicorp during the first quarter worth approximately $234,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Credicorp during the first quarter worth approximately $468,000. Finally, Yousif Capital Management LLC increased its stake in shares of Credicorp by 40.2% during the first quarter. Yousif Capital Management LLC now owns 4,084 shares of the bank’s stock worth $702,000 after buying an additional 1,170 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Credicorp in a research note on Tuesday, December 13th. They set an “outperform” rating and a $142.00 target price on the stock. Itau BBA Securities upgraded shares of Credicorp from a “market perform” rating to an “outperform” rating and set a $156.00 price target on the stock in a research note on Tuesday, January 3rd.
Credicorp Stock Performance
Credicorp Ltd. operates as a holding company, which engages in the provision of financial services. It operates through the following segments: Universal Banking; Microfinance; Insurance and Pensions; and Investment Banking and Wealth Management. The Universal Banking segment focuses on lending and investment services.
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