Credicorp Ltd. (BAP) Rating Lowered 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 issued 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 analysts have also recently weighed in on BAP. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $166.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Credit Suisse Group AG reissued a “buy” rating and set a $154.00 price objective on shares of Credicorp in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently 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. The company had a trading volume of 319,791 shares. Credicorp has a 52-week low of $84.72 and a 52-week high of $166.26. The stock’s market capitalization is $11.83 billion. The stock has a 50 day moving average price of $153.40 and a 200 day moving average price of $150.14.
A number of hedge funds have recently added to or reduced their stakes in BAP. Peddock Capital Advisors LLC purchased a new stake in Credicorp during the third quarter valued at approximately $122,000. Tower Research Capital LLC TRC purchased a new stake in Credicorp during the second quarter valued at approximately $146,000. Smith Asset Management Group LP purchased a new stake in Credicorp during the second quarter valued at approximately $203,000. CAM Group Holding A S boosted its stake in Credicorp by 55.6% in the second quarter. CAM Group Holding A S now owns 1,400 shares of the company’s stock valued at $216,000 after buying an additional 500 shares during the last quarter. Finally, Tdam USA Inc. purchased a new stake in Credicorp during the second quarter valued at approximately $220,000. 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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