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

Credicorp Ltd. (NYSE:BAP) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $418.40.

Several research analysts recently issued reports on BAP shares. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. UBS Group increased their price objective on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings downgraded Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th. The Goldman Sachs Group boosted their target price on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th.

Credicorp Stock Performance

BAP stock opened at $382.97 on Monday. Credicorp has a 1-year low of $230.45 and a 1-year high of $413.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $385.33 and a 200-day moving average price of $355.76. The firm has a market cap of $36.15 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88.

Credicorp (NYSE:BAP) last released its earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, topping the consensus estimate of $7.31 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a return on equity of 20.52% and a net margin of 25.04%. As a group, equities research analysts expect that Credicorp will post 29.41 earnings per share for the current year.

Hedge Funds Weigh In On Credicorp

A number of institutional investors have recently modified their holdings of the company. TD Asset Management Inc increased its stake in Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after purchasing an additional 29 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Credicorp by 21.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after acquiring an additional 32 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Credicorp by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after purchasing an additional 42 shares during the last quarter. Fiduciary Trust Co boosted its stake in Credicorp by 1.8% during the 3rd quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock valued at $759,000 after purchasing an additional 50 shares during the last quarter. Finally, CWM LLC increased its holdings in Credicorp by 16.2% during the 4th quarter. CWM LLC now owns 394 shares of the bank’s stock worth $113,000 after purchasing an additional 55 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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.