Credicorp (BAP) Downgraded by Bank of America to Underperform

Credicorp (NYSE:BAP) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday, The Fly reports.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $232.00 to $240.00 in a report on Monday. ValuEngine lowered shares of Credicorp from a “buy” rating to a “hold” rating in a report on Friday. UBS Group began coverage on shares of Credicorp in a report on Friday, October 26th. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Credicorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, TheStreet raised shares of Credicorp from a “c+” rating to a “b-” rating in a report on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $254.50.

BAP opened at $234.73 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.18 and a debt-to-equity ratio of 0.85. Credicorp has a 1 year low of $207.03 and a 1 year high of $250.40. The firm has a market capitalization of $19.11 billion, a P/E ratio of 15.77, a PEG ratio of 1.53 and a beta of 0.72.

Credicorp (NYSE:BAP) last posted its earnings results on Thursday, November 8th. The bank reported $3.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.00 by ($0.15). The firm had revenue of $982.21 million during the quarter. Credicorp had a net margin of 25.05% and a return on equity of 17.24%. As a group, equities research analysts forecast that Credicorp will post 16.99 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in BAP. Advisors Asset Management Inc. grew its holdings in shares of Credicorp by 6.7% during the second quarter. Advisors Asset Management Inc. now owns 7,991 shares of the bank’s stock worth $1,799,000 after buying an additional 501 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Credicorp during the third quarter worth $272,000. Scout Investments Inc. grew its holdings in shares of Credicorp by 1.9% during the third quarter. Scout Investments Inc. now owns 109,458 shares of the bank’s stock worth $24,418,000 after buying an additional 2,050 shares in the last quarter. West Branch Capital LLC grew its holdings in shares of Credicorp by 3.1% during the third quarter. West Branch Capital LLC now owns 10,801 shares of the bank’s stock worth $2,409,000 after buying an additional 326 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Credicorp by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 897,979 shares of the bank’s stock worth $200,321,000 after buying an additional 12,666 shares in the last quarter. 65.86% of the stock is owned by institutional investors and hedge funds.

About Credicorp

Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.

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Analyst Recommendations for Credicorp (NYSE:BAP)

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