Zacks Investment Research upgraded shares of Credicorp Ltd. (NYSE:BAP) from a sell rating to a hold rating in a research report released on Monday 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 weighed in on the company. Credit Suisse Group AG upped 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. upped 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Credicorp currently has a consensus rating of Buy and an average target price of $175.75.

Credicorp (NYSE:BAP) opened at 150.35 on Monday. Credicorp has a 1-year low of $84.72 and a 1-year high of $166.26. The stock’s market cap is $11.97 billion. The firm’s 50 day moving average price is $150.89 and its 200-day moving average price is $152.72.

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Credicorp by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 2,531,116 shares of the company’s stock valued at $385,286,000 after buying an additional 55,581 shares in the last quarter. Morgan Stanley increased its position in Credicorp by 5.2% in the third quarter. Morgan Stanley now owns 2,462,634 shares of the company’s stock valued at $374,861,000 after buying an additional 121,424 shares in the last quarter. Genesis Asset Managers LLP increased its position in Credicorp by 9.2% in the second quarter. Genesis Asset Managers LLP now owns 2,329,254 shares of the company’s stock valued at $359,474,000 after buying an additional 196,400 shares in the last quarter. Vanguard Group Inc. increased its position in Credicorp by 0.9% in the second quarter. Vanguard Group Inc. now owns 1,809,346 shares of the company’s stock valued at $279,236,000 after buying an additional 16,158 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Credicorp by 15.8% in the third quarter. BlackRock Fund Advisors now owns 1,604,290 shares of the company’s stock valued at $244,205,000 after buying an additional 219,123 shares in the last quarter. Institutional investors own 65.40% 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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