Credicorp Ltd. (BAP) Rating Lowered to Hold at HSBC Holdings PLC

HSBC Holdings PLC downgraded shares of Credicorp Ltd. (NYSE:BAP) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

A number of other research firms have also recently commented on BAP. Bank of America Corporation cut Credicorp from a buy rating to a neutral rating in a research note on Monday, September 18th. The Goldman Sachs Group, Inc. reaffirmed a buy rating and set a $248.00 price objective on shares of Credicorp in a research note on Monday, September 11th. Zacks Investment Research cut Credicorp from a buy rating to a hold rating in a research note on Tuesday, October 17th. cut Credicorp from a buy rating to a hold rating in a research note on Monday, November 13th. Finally, Citigroup Inc. cut Credicorp from a buy rating to a neutral rating in a research note on Friday, September 29th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Credicorp has an average rating of Buy and a consensus target price of $224.25.

Credicorp (NYSE BAP) opened at $208.62 on Tuesday. The company has a market capitalization of $19,230.00, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.22 and a quick ratio of 1.22. Credicorp has a 12 month low of $146.03 and a 12 month high of $213.82.

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Several large investors have recently made changes to their positions in BAP. American Century Companies Inc. grew its stake in shares of Credicorp by 710.5% during the third quarter. American Century Companies Inc. now owns 578,112 shares of the bank’s stock valued at $118,525,000 after buying an additional 506,784 shares during the last quarter. FMR LLC boosted its holdings in shares of Credicorp by 14.7% during the second quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock worth $306,289,000 after purchasing an additional 218,893 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Credicorp by 8.2% during the second quarter. JPMorgan Chase & Co. now owns 2,816,921 shares of the bank’s stock worth $505,327,000 after purchasing an additional 213,085 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Credicorp by 67.4% during the third quarter. Principal Financial Group Inc. now owns 476,334 shares of the bank’s stock worth $97,658,000 after purchasing an additional 191,853 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in shares of Credicorp by 106.0% during the third quarter. APG Asset Management N.V. now owns 364,345 shares of the bank’s stock worth $74,698,000 after purchasing an additional 187,500 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Credicorp (NYSE:BAP)

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