Credicorp (NYSE:BAP) Shares Gap Down – Time to Sell?

Credicorp Ltd. (NYSE:BAP)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $316.31, but opened at $302.09. Credicorp shares last traded at $306.74, with a volume of 38,923 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BAP shares. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Weiss Ratings raised shares of Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. UBS Group boosted their price objective on shares of Credicorp from $318.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.60.

Credicorp Stock Performance

The firm’s 50 day moving average is $331.57 and its 200-day moving average is $311.78. The company has a market cap of $28.66 billion, a PE ratio of 11.71, a PEG ratio of 0.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 22.05%. The company had revenue of $1.81 billion for the quarter. On average, research analysts anticipate that Credicorp Ltd. will post 29.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credicorp

Hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in shares of Credicorp in the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. acquired a new position in shares of Credicorp in the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Credicorp in the first quarter worth about $40,000. Kestra Advisory Services LLC acquired a new position in shares of Credicorp in the fourth quarter worth about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credicorp in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Credicorp

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.