JPMorgan Chase & Co. Downgrades Credicorp (BAP) to Neutral

Credicorp (NYSE:BAP) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

Several other research firms have also weighed in on BAP. ValuEngine lowered Credicorp from a “buy” rating to a “hold” rating in a report on Friday. TheStreet upgraded Credicorp from a “c+” rating to a “b-” rating in a report on Wednesday, January 23rd. Itau BBA Securities upgraded Credicorp from a “market perform” rating to an “outperform” rating and set a $274.00 price target on the stock in a report on Friday, December 7th. UBS Group upgraded Credicorp from a “market perform” rating to an “outperform” rating in a report on Thursday, December 6th. Finally, Zacks Investment Research upgraded Credicorp from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $259.33.

Shares of BAP opened at $239.61 on Monday. The company has a market cap of $19.11 billion, a PE ratio of 16.10, a PEG ratio of 1.53 and a beta of 0.72. Credicorp has a 1 year low of $207.03 and a 1 year high of $250.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.18.

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

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank grew its position in Credicorp by 1.1% in the 4th quarter. Comerica Bank now owns 4,791 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 51 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Credicorp by 0.4% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,016 shares of the bank’s stock valued at $3,328,000 after acquiring an additional 63 shares during the last quarter. Jennison Associates LLC grew its position in Credicorp by 1.9% in the 4th quarter. Jennison Associates LLC now owns 3,790 shares of the bank’s stock valued at $840,000 after acquiring an additional 72 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Credicorp by 31.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 358 shares of the bank’s stock valued at $80,000 after acquiring an additional 85 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Credicorp by 1.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,110 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 107 shares during the last quarter. 65.86% of the stock is currently owned by institutional investors.

Credicorp Company Profile

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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