Credicorp Ltd. (NYSE:BAP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Credicorp Ltd. (NYSE:BAP) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $384.3333.

BAP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a report on Monday, June 15th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. 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 report on Tuesday, May 19th. The Goldman Sachs Group upped their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings raised shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday.

Credicorp Price Performance

Credicorp stock opened at $381.89 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $36.04 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.84 and a beta of 0.90. The business’s fifty day moving average is $379.38 and its two-hundred day moving average is $352.55. Credicorp has a 52 week low of $230.45 and a 52 week high of $413.24.

Insider Buying and Selling at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Credicorp

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Credicorp in the first quarter worth about $78,000. Cetera Investment Advisers lifted its position in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after purchasing an additional 476 shares during the period. State Street Corp boosted its stake in shares of Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after purchasing an additional 19,361 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of Credicorp in the 2nd quarter valued at about $355,000. Finally, Quantinno Capital Management LP grew its position in shares of Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after buying an additional 1,083 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.