Credicorp (BAP) Upgraded to “Buy” at Zacks Investment Research

Credicorp (NYSE:BAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $239.00 target price on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.90% 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 “

A number of other research analysts have also commented on the stock. ValuEngine lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. HSBC lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Citigroup lowered shares of Credicorp from a “buy” rating to a “neutral” rating in a research report on Friday, September 29th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $225.50.

Credicorp (NYSE:BAP) traded up $6.15 during midday trading on Wednesday, hitting $213.58. 150,300 shares of the company were exchanged, compared to its average volume of 133,800. Credicorp has a fifty-two week low of $150.71 and a fifty-two week high of $215.69. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $17,300.00, a price-to-earnings ratio of 14.00, a PEG ratio of 1.05 and a beta of 0.86.

A number of institutional investors have recently bought and sold shares of BAP. Schwab Charles Investment Management Inc. grew its position in Credicorp by 27.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 79,622 shares of the bank’s stock worth $14,284,000 after buying an additional 17,073 shares during the last quarter. Blair William & Co. IL acquired a new position in Credicorp in the second quarter worth approximately $239,000. LSV Asset Management acquired a new position in Credicorp in the second quarter worth approximately $31,393,000. Schroder Investment Management Group grew its position in Credicorp by 11.3% in the second quarter. Schroder Investment Management Group now owns 708,407 shares of the bank’s stock worth $127,896,000 after buying an additional 71,922 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its position in Credicorp by 0.3% in the second quarter. Commonwealth Bank of Australia now owns 7,895 shares of the bank’s stock worth $1,415,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

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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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