Credicorp (NYSE:BAP) Sets New 1-Year High – Here’s What Happened

Credicorp Ltd. (NYSE:BAP) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $399.38 and last traded at $396.96, with a volume of 132820 shares changing hands. The stock had previously closed at $389.58.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group raised their price objective on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research note on Monday, June 15th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.00.

Credicorp Stock Performance

The company has a market cap of $37.19 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.84 and a beta of 0.89. 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 company has a fifty day moving average of $343.13 and a two-hundred day moving average of $332.98.

Insider Transactions at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction dated 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 sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

A number of hedge funds have recently modified their holdings of BAP. TD Asset Management Inc grew its stake in shares of Credicorp by 1.6% in the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after purchasing an additional 29 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in Credicorp by 2.8% during the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock worth $336,000 after buying an additional 32 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after buying an additional 32 shares during the period. Perpetual Ltd grew its position in shares of Credicorp by 0.5% in the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock valued at $1,842,000 after buying an additional 34 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Credicorp by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.