Credicorp (NYSE:BAP) Reaches New 1-Year High – Here’s Why

Credicorp Ltd. (NYSE:BAP)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $385.91 and last traded at $382.8460, with a volume of 30869 shares changing hands. The stock had previously closed at $364.28.

Wall Street Analyst Weigh In

BAP has been the subject of a number of analyst reports. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $375.00 to $480.00 in a research report on Wednesday. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. The Goldman Sachs Group increased their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, UBS Group lifted their price target on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.00.

Credicorp Stock Performance

The firm’s fifty day moving average price is $335.52 and its 200-day moving average price is $324.84. The firm has a market cap of $36.80 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.78 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

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 business had revenue of $1.81 billion for the quarter. Analysts expect that Credicorp Ltd. will post 29.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were 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 of the company’s stock, valued at approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. 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 the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 15.90% of the company’s stock.

Institutional Trading of Credicorp

Large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Credicorp during the 3rd quarter worth $35,000. Raymond James Financial Inc. acquired a new position in Credicorp during the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Credicorp in the first quarter valued at about $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp during the 4th quarter worth approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credicorp during the 4th quarter worth approximately $46,000. 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.