Credicorp (NYSE:BAP) Rating Lowered to “Hold” at Zacks Research

Credicorp (NYSE:BAP) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. The Goldman Sachs Group boosted their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Price Performance

Shares of NYSE BAP opened at $354.96 on Tuesday. The company has a market capitalization of $28.23 billion, a PE ratio of 14.60, a P/E/G ratio of 0.80 and a beta of 0.87. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp has a twelve month low of $165.51 and a twelve month high of $380.20. The firm has a fifty day simple moving average of $325.23 and a 200 day simple moving average of $282.99.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.77 billion. On average, sell-side analysts forecast that Credicorp will post 21.9 EPS for the current year.

Institutional Investors Weigh In On Credicorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new position in Credicorp in the 3rd quarter valued at about $35,000. MAI Capital Management raised its stake in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after purchasing an additional 159 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Credicorp in the second quarter valued at approximately $38,000. Spire Wealth Management purchased a new position in shares of Credicorp during the third quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new stake in Credicorp during the fourth quarter worth $42,000. 89.81% of the stock is owned by institutional investors.

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.