Credicorp (BAP) Downgraded to “Underperform” at Bank of America

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Bank of America lowered shares of Credicorp (NYSE:BAP) from a neutral rating to an underperform rating in a research report sent to investors on Monday morning, The Fly reports.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Credicorp from an overweight rating to a neutral rating and boosted their target price for the stock from $232.00 to $240.00 in a research report on Monday. ValuEngine cut shares of Credicorp from a buy rating to a hold rating in a research report on Friday. TheStreet raised shares of Credicorp from a c+ rating to a b- rating in a research report on Wednesday, January 23rd. Zacks Investment Research upgraded shares of Credicorp from a sell rating to a hold rating in a research note on Monday, December 31st. Finally, Itau BBA Securities upgraded shares of Credicorp from a market perform rating to an outperform rating and set a $274.00 price target for the company in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $254.50.

NYSE BAP opened at $236.50 on Monday. Credicorp has a 52 week low of $207.41 and a 52 week high of $250.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.18. The firm has a market cap of $19.11 billion, a PE ratio of 15.89, a PEG ratio of 1.53 and a beta of 0.72.

A number of hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC increased its stake in Credicorp by 6.0% during the fourth quarter. WCM Investment Management LLC now owns 13,763 shares of the bank’s stock valued at $3,051,000 after purchasing an additional 785 shares during the last quarter. Bank of Nova Scotia increased its stake in Credicorp by 27.7% during the fourth quarter. Bank of Nova Scotia now owns 826,880 shares of the bank’s stock valued at $183,295,000 after purchasing an additional 179,314 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Credicorp by 537.3% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 73,260 shares of the bank’s stock valued at $16,240,000 after purchasing an additional 61,764 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Credicorp by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 85,463 shares of the bank’s stock valued at $18,945,000 after purchasing an additional 2,032 shares during the last quarter. Finally, Alta Advisers Ltd bought a new stake in Credicorp during the fourth quarter valued at $1,092,000. Hedge funds and other institutional investors own 65.86% of the company’s stock.

About Credicorp

Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.

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Analyst Recommendations for Credicorp (NYSE:BAP)

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