Credicorp (NYSE:BAP) Trading Down 4.8% – Here’s What Happened

Credicorp Ltd. (NYSE:BAP) traded down 4.8% on Monday . The company traded as low as $299.00 and last traded at $307.0740. 331,015 shares were traded during mid-day trading, a decline of 30% from the average session volume of 472,267 shares. The stock had previously closed at $322.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group boosted their price objective on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and a consensus price target of $356.40.

Credicorp Stock Down 2.2%

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $332.43 and a 200-day moving average price of $319.75. The firm has a market capitalization of $29.77 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.70 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. Equities research analysts forecast that Credicorp Ltd. will post 29.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Credicorp

Large investors have recently made changes to their positions in the stock. Capital World Investors lifted its holdings in Credicorp by 34.7% in the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after acquiring an additional 565,490 shares during the last quarter. Royal Bank of Canada lifted its holdings in Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock valued at $584,042,000 after acquiring an additional 13,249 shares during the last quarter. Invesco Ltd. lifted its holdings in Credicorp by 2.3% in the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock valued at $396,287,000 after acquiring an additional 31,383 shares during the last quarter. State Street Corp lifted its holdings in Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after acquiring an additional 69,329 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Credicorp by 2.2% in the fourth quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank’s stock valued at $317,830,000 after acquiring an additional 23,777 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Credicorp

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.