Credicorp Ltd. (NYSE:BAP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $418.40.

BAP has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target for the company. in a research report on Monday, June 15th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, UBS Group lifted their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th.

Credicorp Trading Up 0.3%

NYSE:BAP opened at $369.53 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $385.48 and its 200 day moving average is $354.59. Credicorp has a 12 month low of $230.45 and a 12 month high of $413.24. The stock has a market capitalization of $34.88 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.90.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Friday, August 14th. The bank reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%. Sell-side analysts expect that Credicorp will post 29.41 earnings per share for the current year.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Amundi lifted its holdings in Credicorp by 26.4% in the 2nd quarter. Amundi now owns 535,235 shares of the bank’s stock worth $208,517,000 after buying an additional 111,785 shares during the period. HighTower Advisors LLC raised its holdings in shares of Credicorp by 8.5% during the second quarter. HighTower Advisors LLC now owns 5,184 shares of the bank’s stock valued at $2,019,000 after acquiring an additional 408 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Credicorp in the second quarter worth $3,857,000. California State Teachers Retirement System lifted its stake in Credicorp by 39,776.2% in the second quarter. California State Teachers Retirement System now owns 4,111,238 shares of the bank’s stock worth $1,601,656,000 after acquiring an additional 4,100,928 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Credicorp in the second quarter valued at $330,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.