Credicorp Ltd. (NYSE:BAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $194.00 price target on the bank’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.79% from the company’s current price.

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 “

Separately, Credit Suisse Group AG restated a “buy” rating and issued a $196.00 price target on shares of Credicorp in a research report on Wednesday, February 8th.

Shares of Credicorp (NYSE:BAP) traded down 0.67% on Wednesday, hitting $172.00. 287,782 shares of the stock traded hands. The company’s market cap is $13.67 billion. Credicorp has a 12 month low of $139.31 and a 12 month high of $176.24. The firm’s 50 day moving average is $160.43 and its 200-day moving average is $161.05.

The business also recently disclosed an annual dividend, which was paid on Friday, May 12th. Investors of record on Tuesday, April 18th were paid a dividend of $3.7637 per share. The ex-dividend date was Thursday, April 13th. This represents a dividend yield of 2.27%. This is a positive change from Credicorp’s previous annual dividend of $2.32. Credicorp’s dividend payout ratio (DPR) is presently 17.79%.

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Hedge funds have recently bought and sold shares of the stock. World Asset Management Inc raised its stake in Credicorp by 7.9% in the third quarter. World Asset Management Inc now owns 5,321 shares of the bank’s stock worth $810,000 after buying an additional 389 shares during the last quarter. Quantbot Technologies LP raised its stake in Credicorp by 205.0% in the third quarter. Quantbot Technologies LP now owns 5,169 shares of the bank’s stock worth $786,000 after buying an additional 3,474 shares during the last quarter. Cidel Asset Management Inc. raised its stake in Credicorp by 4.9% in the third quarter. Cidel Asset Management Inc. now owns 110,173 shares of the bank’s stock worth $16,771,000 after buying an additional 5,114 shares during the last quarter. GAM Holding AG raised its stake in Credicorp by 35.6% in the third quarter. GAM Holding AG now owns 53,300 shares of the bank’s stock worth $8,114,000 after buying an additional 14,000 shares during the last quarter. Finally, Marietta Investment Partners LLC raised its stake in Credicorp by 12.4% in the third quarter. Marietta Investment Partners LLC now owns 43,893 shares of the bank’s stock worth $6,681,000 after buying an additional 4,825 shares during the last quarter. 63.91% of the stock is currently owned by institutional investors and hedge funds.

About Credicorp

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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