Credicorp (NYSE:BAP) Hits New 1-Year High – Should You Buy?

Credicorp Ltd. (NYSE:BAP) reached a new 52-week high during trading on Monday . The stock traded as high as $307.39 and last traded at $306.9150, with a volume of 24363 shares changing hands. The stock had previously closed at $302.15.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BAP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. UBS Group increased their target price on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Wall Street Zen downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.60.

Credicorp Stock Up 1.7%

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.68 and a beta of 0.89. The firm’s fifty day moving average is $271.94 and its 200-day moving average is $257.17.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. On average, sell-side analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Institutional Trading of Credicorp

Several institutional investors have recently added to or reduced their stakes in BAP. Summitry LLC bought a new stake in shares of Credicorp in the 2nd quarter worth $257,000. Asset Management One Co. Ltd. boosted its stake in Credicorp by 19.3% during the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock valued at $3,333,000 after buying an additional 2,023 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Credicorp by 46.6% during the second quarter. Acadian Asset Management LLC now owns 464,098 shares of the bank’s stock worth $103,698,000 after acquiring an additional 147,573 shares during the period. Carrhae Capital LLP raised its position in Credicorp by 7.5% in the second quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock worth $47,790,000 after acquiring an additional 14,931 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Credicorp in the 2nd quarter valued at about $418,000. Institutional investors 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.