Credicorp (NYSE:BAP) Stock Rating Lowered by JPMorgan Chase & Co.

Credicorp (NYSE:BAP) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $415.00 price objective on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.42% from the company’s previous close.

BAP has been the topic of a number of other research reports. UBS Group raised their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Zacks Research lowered shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group raised their price objective on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.40.

Credicorp Stock Down 0.1%

BAP opened at $369.16 on Monday. Credicorp has a 12 month low of $213.75 and a 12 month high of $380.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $34.84 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.80 and a beta of 0.89. The stock’s 50 day moving average price is $334.58 and its 200 day moving average price is $323.29.

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

Insider Activity at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the 2nd quarter valued at $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Credicorp during the 1st quarter valued at $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp during the 4th quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp during the 4th quarter valued at $46,000. 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.