Brokerages Set Credicorp Ltd. (NYSE:BAP) PT at $290.20

Shares of Credicorp Ltd. (NYSE:BAP) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $290.20.

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. lifted their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. The Goldman Sachs Group lifted their price target on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Finally, Zacks Research upgraded Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th.

Credicorp Price Performance

Shares of NYSE BAP opened at $321.40 on Friday. The business’s 50 day moving average price is $278.84 and its 200 day moving average price is $261.06. The firm has a market cap of $25.56 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.73 and a beta of 0.89. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp has a 52 week low of $165.51 and a 52 week high of $322.77.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.05 by $0.12. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. On average, sell-side analysts expect that Credicorp will post 21.9 earnings per share for the current year.

Institutional Investors Weigh In On Credicorp

Institutional investors have recently modified their holdings of the company. Redhawk Wealth Advisors Inc. grew its position in Credicorp by 7.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,865 shares of the bank’s stock valued at $1,109,000 after acquiring an additional 264 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Credicorp by 7,441.9% during the 4th quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after purchasing an additional 31,628 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Credicorp by 14.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,571 shares of the bank’s stock worth $738,000 after purchasing an additional 328 shares during the last quarter. Marshall Financial Group LLC acquired a new position in shares of Credicorp during the fourth quarter worth $912,000. Finally, Triumph Capital Management purchased a new position in Credicorp in the third quarter valued at $129,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.