Credicorp Ltd. (NYSE:BAP) Given Average Recommendation of “Moderate Buy” by Brokerages

Credicorp Ltd. (NYSE:BAP) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $356.40.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. boosted their price target on shares of Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 15th. Finally, UBS Group upped their price objective on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday.

Credicorp Stock Down 2.1%

BAP stock opened at $340.87 on Friday. Credicorp has a 12 month low of $206.60 and a 12 month high of $380.20. The firm has a market cap of $32.17 billion, a PE ratio of 13.14, a P/E/G ratio of 0.76 and a beta of 0.87. The firm has a 50 day simple moving average of $331.78 and a 200 day simple moving average of $316.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last released 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 20.61%. The business had revenue of $1.81 billion for the quarter. Equities research analysts forecast that Credicorp will post 29.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred 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 owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after purchasing an additional 565,490 shares during the last quarter. Royal Bank of Canada boosted its holdings in Credicorp by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock valued at $584,042,000 after purchasing an additional 13,249 shares during the period. Invesco Ltd. boosted its holdings in Credicorp by 2.3% in the 4th quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock valued at $396,287,000 after purchasing an additional 31,383 shares during the period. State Street Corp boosted its holdings in Credicorp by 5.5% in the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after purchasing an additional 69,329 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Credicorp by 2.2% in the 4th quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank’s stock valued at $317,830,000 after purchasing an additional 23,777 shares during the period. 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.