Credicorp (NYSE:BAP) Shares Gap Up – Time to Buy?

Credicorp Ltd. (NYSE:BAP)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $319.89, but opened at $341.70. Credicorp shares last traded at $360.3080, with a volume of 166,006 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAP. The Goldman Sachs Group increased their price objective 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. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group increased their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $356.40.

Credicorp Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50-day moving average is $332.24 and its 200 day moving average is $320.23. The stock has a market capitalization of $32.70 billion, a PE ratio of 13.33, a P/E/G ratio of 0.70 and a beta of 0.89.

Credicorp (NYSE:BAP) last posted its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. As a group, equities analysts expect that Credicorp Ltd. will post 29.61 earnings per share for the current year.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This trade represents a 38.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 15.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sovran Advisors LLC acquired a new stake in Credicorp during the 4th quarter worth $1,358,000. Causeway Capital Management LLC lifted its stake in shares of Credicorp by 11.9% in the 3rd quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock worth $57,417,000 after acquiring an additional 22,870 shares during the period. Marshall Financial Group LLC acquired a new stake in shares of Credicorp in the 4th quarter worth $912,000. Capital World Investors acquired a new stake in shares of Credicorp in the 3rd quarter worth $434,014,000. Finally, Candriam S.C.A. lifted its stake in shares of Credicorp by 146.3% in the 3rd quarter. Candriam S.C.A. now owns 168,390 shares of the bank’s stock worth $44,839,000 after acquiring an additional 100,030 shares during the period. 89.81% of the stock is owned by hedge funds and other 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.