Credicorp Ltd. (NYSE:BAP) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $431.80.

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, September 3rd. UBS Group lifted their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. The Goldman Sachs Group boosted their price target on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $453.00 to $482.00 in a research report on Wednesday, September 16th. Finally, Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th.

Credicorp Price Performance

NYSE:BAP opened at $382.08 on Friday. Credicorp has a 52 week low of $230.45 and a 52 week high of $413.24. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.76 and a beta of 0.88. The firm’s 50-day simple moving average is $382.77 and its 200 day simple moving average is $359.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BAP. Pin Oak Investment Advisors Inc. acquired a new position in Credicorp in the second quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in Credicorp during the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Credicorp during the second quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Credicorp during the first quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Credicorp by 227.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 177 shares of the bank’s stock valued at $51,000 after buying an additional 123 shares during the period. Institutional investors own 89.81% of the company’s stock.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.