Credicorp (BAP) Downgraded by Zacks Investment Research to Hold

Credicorp (NYSE:BAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, January 8th.

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

Several other equities research analysts have also recently weighed in on BAP. Citigroup cut shares of Credicorp from a “buy” rating to a “neutral” rating in a research report on Friday, September 29th. cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. ValuEngine cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, HSBC lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $225.50.

Credicorp (NYSE:BAP) traded up $1.06 during mid-day trading on Monday, hitting $223.94. 163,064 shares of the company traded hands, compared to its average volume of 190,280. The company has a market cap of $17,820.00, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.12 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.22. Credicorp has a 52 week low of $150.71 and a 52 week high of $226.47.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Credicorp by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,406,803 shares of the bank’s stock worth $431,756,000 after acquiring an additional 95,458 shares during the period. FMR LLC boosted its holdings in shares of Credicorp by 14.7% in the second quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock worth $306,289,000 after buying an additional 218,893 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Credicorp by 1.3% in the second quarter. Nordea Investment Management AB now owns 1,333,036 shares of the bank’s stock worth $239,133,000 after buying an additional 16,691 shares during the last quarter. Vontobel Asset Management Inc. boosted its holdings in shares of Credicorp by 19.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 1,280,187 shares of the bank’s stock worth $268,690,000 after buying an additional 208,454 shares during the last quarter. Finally, Harding Loevner LP lifted its holdings in Credicorp by 1.7% during the third quarter. Harding Loevner LP now owns 1,052,453 shares of the bank’s stock valued at $215,774,000 after purchasing an additional 17,695 shares in the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.

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About Credicorp

Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.

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