Zacks Investment Research upgraded shares of Credicorp (NYSE:BAP) from a sell rating to a hold rating in a research note released on Monday morning, reports.

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 analysts have also recently weighed in on BAP. ValuEngine raised Credicorp from a sell rating to a hold rating in a report on Wednesday, October 30th. Bank of America raised Credicorp from an underperform rating to a buy rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on Credicorp from $250.00 to $238.00 and set an overweight rating on the stock in a report on Friday. Finally, HSBC raised Credicorp from a hold rating to a buy rating and raised their price target for the company from $245.00 to $250.00 in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $254.00.

Shares of NYSE:BAP traded down $2.63 on Monday, hitting $208.19. The company’s stock had a trading volume of 200,736 shares, compared to its average volume of 295,050. The company has a 50-day simple moving average of $209.66 and a 200 day simple moving average of $217.61. Credicorp has a 1 year low of $199.83 and a 1 year high of $252.49. The company has a market capitalization of $16.80 billion, a PE ratio of 13.99, a PEG ratio of 1.07 and a beta of 0.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.12 and a quick ratio of 1.12.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, November 7th. The bank reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($0.16). Credicorp had a net margin of 24.52% and a return on equity of 16.30%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. On average, equities research analysts expect that Credicorp will post 16.46 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Friday, November 22nd. Investors of record on Wednesday, October 23rd will be issued a dividend of $8.00 per share. The ex-dividend date of this dividend is Monday, October 21st. Credicorp’s dividend payout ratio is 40.79%.

In related news, insider Abotomey Darryl sold 105,790 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $7.21, for a total transaction of $762,745.90. Company insiders own 15.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bartlett & Co. LLC raised its holdings in shares of Credicorp by 16.7% during the 3rd quarter. Bartlett & Co. LLC now owns 350 shares of the bank’s stock valued at $73,000 after buying an additional 50 shares in the last quarter. Parallel Advisors LLC increased its stake in Credicorp by 19.9% in the 3rd quarter. Parallel Advisors LLC now owns 343 shares of the bank’s stock worth $71,000 after purchasing an additional 57 shares during the period. Atlas Capital Advisors LLC increased its stake in Credicorp by 2.4% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,526 shares of the bank’s stock worth $578,000 after purchasing an additional 60 shares during the period. Huntington National Bank increased its stake in Credicorp by 29.7% in the 2nd quarter. Huntington National Bank now owns 529 shares of the bank’s stock worth $121,000 after purchasing an additional 121 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Credicorp by 1.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,477 shares of the bank’s stock worth $1,712,000 after purchasing an additional 122 shares during the period. 66.69% of the stock is currently owned by institutional investors.

About Credicorp

Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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