Credicorp (NYSE:BAP) Cut to Hold at Wall Street Zen

Credicorp (NYSE:BAP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

BAP has been the subject of a number of other reports. Zacks Research upgraded shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. HSBC downgraded Credicorp from a “buy” rating to a “hold” rating and increased their price target for the stock from $225.00 to $255.00 in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. UBS Group raised their target price on Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Hsbc Global Res raised Credicorp to a “hold” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and a consensus target price of $276.60.

Credicorp Price Performance

Shares of NYSE BAP opened at $285.03 on Friday. Credicorp has a 52 week low of $165.51 and a 52 week high of $287.05. The business’s 50 day moving average price is $261.46 and its 200 day moving average price is $248.85. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm has a market cap of $22.67 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.71 and a beta of 0.90.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. On average, sell-side analysts expect that Credicorp will post 21.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BAP. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the 3rd quarter valued at approximately $35,000. Spire Wealth Management purchased a new stake in Credicorp in the 3rd quarter worth $42,000. MAI Capital Management raised its position in Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after acquiring an additional 159 shares during the period. Raymond James Financial Inc. purchased a new position in Credicorp during the second quarter valued at $38,000. Finally, Quarry LP purchased a new position in Credicorp during the third quarter valued at $46,000. 89.81% of the stock is owned by institutional investors and hedge funds.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.