Credicorp (NYSE:BAP) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Credicorp (NYSE:BAP) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, Benzinga reports. The firm presently has a $482.00 target price on the bank’s stock, up from their prior target price of $453.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.48% from the stock’s previous close.

A number of other research firms have also weighed in on BAP. UBS Group boosted their target price on shares of Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings raised Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, September 3rd. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and a consensus target price of $431.80.

Credicorp Stock Up 2.2%

NYSE:BAP traded up $8.18 during trading hours on Wednesday, reaching $381.08. The company’s stock had a trading volume of 35,068 shares, compared to its average volume of 431,732. Credicorp has a one year low of $230.45 and a one year high of $413.24. The business’s 50-day moving average is $383.70 and its 200-day moving average is $357.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.74 and a beta of 0.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its stake in Credicorp by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after acquiring an additional 42 shares in the last quarter. Allworth Financial LP increased its position in shares of Credicorp by 42.9% during the 2nd quarter. Allworth Financial LP now owns 170 shares of the bank’s stock worth $66,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Credicorp by 44.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 188 shares of the bank’s stock valued at $54,000 after purchasing an additional 58 shares during the last quarter. Confluence Investment Management LLC boosted its position in Credicorp by 6.9% in the second quarter. Confluence Investment Management LLC now owns 946 shares of the bank’s stock valued at $369,000 after buying an additional 61 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Credicorp during the second quarter worth about $25,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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.