Credicorp Ltd. (BAP) Cut to “Sell” at Zacks Investment Research
Credicorp Ltd. (NYSE:BAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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 “
A number of other research firms have also issued reports on BAP. JPMorgan Chase & Co. upped their target price on shares of Credicorp from $166.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $154.00 target price on shares of Credicorp in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $175.75.
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Credicorp (NYSE:BAP) traded up 2.37% on Tuesday, reaching $148.67. 319,791 shares of the company’s stock were exchanged. Credicorp has a one year low of $84.72 and a one year high of $166.26. The stock’s market cap is $11.83 billion. The firm has a 50 day moving average of $153.09 and a 200-day moving average of $150.29.
Several large investors have recently made changes to their positions in BAP. Mason Hill Advisors LLC boosted its position in Credicorp by 16.6% in the first quarter. Mason Hill Advisors LLC now owns 126,540 shares of the company’s stock worth $16,578,000 after buying an additional 18,000 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in Credicorp by 5.5% in the first quarter. Pictet Asset Management Ltd. now owns 101,284 shares of the company’s stock worth $11,874,000 after buying an additional 5,300 shares during the last quarter. Quadrature Capital Ltd boosted its position in Credicorp by 189.3% in the first quarter. Quadrature Capital Ltd now owns 19,563 shares of the company’s stock worth $2,563,000 after buying an additional 12,801 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Credicorp during the first quarter worth approximately $799,000. Finally, UBS Group AG boosted its position in Credicorp by 44.7% in the first quarter. UBS Group AG now owns 30,374 shares of the company’s stock worth $3,979,000 after buying an additional 9,379 shares during the last quarter. 65.68% of the stock is owned by hedge funds and other institutional investors.
Credicorp Company Profile
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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