Credicorp Ltd. (BAP) Downgraded by Zacks Investment Research to Hold
Credicorp Ltd. (NYSE:BAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 “
Other analysts have also recently issued research reports about the stock. UBS AG cut shares of Credicorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 27th. Bank of America Corporation cut shares of Credicorp from a “buy” rating to a “neutral” rating in a research report on Monday, September 18th. BidaskClub upgraded shares of Credicorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Citigroup Inc. cut shares of Credicorp from a “buy” rating to a “neutral” rating in a research report on Friday, September 29th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $248.00 target price on shares of Credicorp in a research report on Monday, September 11th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $221.00.
Shares of Credicorp (NYSE BAP) traded down 0.57% on Tuesday, hitting $207.15. The stock had a trading volume of 294,560 shares. Credicorp has a 12 month low of $145.02 and a 12 month high of $213.83. The stock’s market cap is $16.46 billion. The company has a 50 day moving average price of $205.76 and a 200-day moving average price of $183.24.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Credicorp by 8.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,816,921 shares of the bank’s stock valued at $505,327,000 after buying an additional 213,085 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Credicorp by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,406,803 shares of the bank’s stock valued at $431,756,000 after buying an additional 95,458 shares in the last quarter. Genesis Asset Managers LLP raised its position in shares of Credicorp by 6.6% during the 2nd quarter. Genesis Asset Managers LLP now owns 2,260,335 shares of the bank’s stock valued at $405,481,000 after buying an additional 139,292 shares in the last quarter. State Street Corp raised its position in shares of Credicorp by 3.9% during the 1st quarter. State Street Corp now owns 1,764,313 shares of the bank’s stock valued at $288,118,000 after buying an additional 65,484 shares in the last quarter. Finally, FMR LLC raised its position in shares of Credicorp by 14.7% during the 2nd quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock valued at $306,289,000 after buying an additional 218,893 shares in the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.
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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