HSBC Holdings plc Lowers Credicorp Ltd. (BAP) to Hold
Credicorp Ltd. (NYSE:BAP) was downgraded by equities researchers at HSBC Holdings plc from a “buy” rating to a “hold” rating in a report issued on Tuesday.
A number of other analysts have also recently issued reports on the stock. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday. cut shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research upgraded shares of Credicorp from a “hold” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Friday. Citigroup Inc. cut shares of Credicorp from a “buy” rating to a “neutral” rating in a research note on Friday, September 29th. Finally, Bank of America Corporation cut shares of Credicorp from a “buy” rating to a “neutral” rating in a research note on Monday, September 18th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $224.25.
Shares of Credicorp (NYSE BAP) traded down $0.63 during mid-day trading on Tuesday, reaching $201.09. 325,900 shares of the company’s stock were exchanged, compared to its average volume of 278,437. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $16,414.66, a PE ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 0.84. Credicorp has a 12-month low of $146.03 and a 12-month high of $213.82.
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Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its holdings in Credicorp by 143.0% in the 2nd quarter. Advisor Group Inc. now owns 724 shares of the bank’s stock valued at $130,000 after buying an additional 426 shares during the period. Blair William & Co. IL bought a new position in Credicorp in the 2nd quarter valued at about $239,000. Campbell & CO Investment Adviser LLC bought a new position in Credicorp in the 2nd quarter valued at about $247,000. Quantitative Systematic Strategies LLC bought a new position in Credicorp in the 3rd quarter valued at about $251,000. Finally, First Mercantile Trust Co. increased its holdings in Credicorp by 54.1% in the 2nd quarter. First Mercantile Trust Co. now owns 1,425 shares of the bank’s stock valued at $256,000 after buying an additional 500 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.
Credicorp Company Profile
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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