Zacks Investment Research cut shares of Credicorp Ltd. (NYSE:BAP) from a hold rating to a sell rating in a report issued on Tuesday morning.

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 “

A number of other analysts have also recently weighed in on the company. Credit Suisse Group AG raised their price objective on Credicorp from $154.00 to $196.00 and gave the stock an outperform rating in a research report on Wednesday, September 21st. JPMorgan Chase & Co. raised their price objective on Credicorp from $166.00 to $190.00 and gave the stock an overweight rating in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Credicorp has an average rating of Buy and an average target price of $175.75.

Analyst Recommendations for Credicorp (NYSE:BAP)

Shares of Credicorp (NYSE:BAP) opened at 149.32 on Tuesday. Credicorp has a 12 month low of $84.72 and a 12 month high of $166.26. The stock’s market cap is $11.88 billion. The firm has a 50-day moving average price of $153.09 and a 200-day moving average price of $150.29.

Several institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new position in shares of Credicorp during the second quarter valued at $123,236,000. Coronation Fund Managers Ltd. acquired a new position in shares of Credicorp during the second quarter valued at $76,635,000. Axiom International Investors LLC DE raised its position in shares of Credicorp by 148.5% in the second quarter. Axiom International Investors LLC DE now owns 656,319 shares of the company’s stock valued at $101,290,000 after buying an additional 392,191 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Credicorp during the second quarter valued at $59,181,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Credicorp during the second quarter valued at $51,529,000. Hedge funds and other institutional investors own 65.68% of the company’s stock.

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.

5 Day Chart for NYSE:BAP

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