Credicorp Ltd. (NYSE:BAP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $377.00.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. UBS Group lifted their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and increased their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th.

Insider Activity

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

Institutional Trading of Credicorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Credicorp in the 1st quarter worth $40,000. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the 3rd quarter valued at about $35,000. Kestra Advisory Services LLC purchased a new stake in Credicorp in the fourth quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp in the fourth quarter valued at about $46,000. Finally, Raymond James Financial Inc. acquired a new stake in Credicorp in the second quarter worth about $38,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Up 2.3%

Shares of NYSE:BAP traded up $9.19 on Friday, hitting $401.11. 205,209 shares of the company traded hands, compared to its average volume of 361,199. The company has a market cap of $37.86 billion, a PE ratio of 15.46, a PEG ratio of 0.87 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp has a 52 week low of $216.87 and a 52 week high of $402.19. The stock has a 50 day simple moving average of $353.41 and a 200-day simple moving average of $338.76.

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.