Credicorp (NYSE:BAP) Reaches New 12-Month High – Here’s Why

Shares of Credicorp Ltd. (NYSE:BAP) reached a new 52-week high on Wednesday . The company traded as high as $385.91 and last traded at $382.8460, with a volume of 30869 shares trading hands. The stock had previously closed at $364.28.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research note on Monday. UBS Group lifted their price target on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Credicorp presently has a consensus rating of “Moderate Buy” and an average target price of $377.00.

Credicorp Price Performance

The stock has a market capitalization of $36.09 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $337.41 and a 200 day simple moving average of $326.65.

Credicorp (NYSE:BAP) last released its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. On average, equities analysts forecast that Credicorp Ltd. will post 29.65 earnings per share for the current fiscal year.

Insider Transactions at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Credicorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC bought a new position in Credicorp in the first quarter valued at approximately $260,000. Summitry LLC raised its position in shares of Credicorp by 5.0% during the 1st quarter. Summitry LLC now owns 1,397 shares of the bank’s stock valued at $474,000 after acquiring an additional 66 shares during the last quarter. Amundi raised its position in shares of Credicorp by 11.7% during the 1st quarter. Amundi now owns 423,450 shares of the bank’s stock valued at $143,626,000 after acquiring an additional 44,469 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Credicorp by 91.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 359 shares of the bank’s stock valued at $122,000 after purchasing an additional 171 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Credicorp by 69.7% in the 1st quarter. California State Teachers Retirement System now owns 10,310 shares of the bank’s stock valued at $3,497,000 after purchasing an additional 4,233 shares during the period. 89.81% of the stock is owned by institutional investors.

Credicorp Company Profile

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.