Credicorp (NYSE:BAP) Cut to “Hold” at Zacks Research

Credicorp (NYSE:BAP) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on BAP. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. increased their target price on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Finally, The Goldman Sachs Group raised their price target on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Stock Performance

Shares of Credicorp stock opened at $354.96 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The company has a market cap of $28.23 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.87. The company has a 50 day moving average of $325.23 and a 200-day moving average of $282.99. Credicorp has a 1-year low of $165.51 and a 1-year high of $380.20.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a net margin of 24.53% and a return on equity of 21.54%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.77 billion. As a group, equities research analysts forecast that Credicorp will post 21.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credicorp

A number of hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. acquired a new stake in Credicorp in the third quarter valued at $35,000. Kestra Advisory Services LLC bought a new stake in shares of Credicorp in the 4th quarter valued at about $42,000. Spire Wealth Management acquired a new stake in shares of Credicorp in the third quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp during the fourth quarter worth about $46,000. Finally, MAI Capital Management lifted its stake in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.