Credicorp Ltd. (NYSE:BAP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $276.60.

Several brokerages have recently weighed in on BAP. HSBC lowered shares of Credicorp from a “buy” rating to a “hold” rating and lifted their target price for the company from $225.00 to $255.00 in a research report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 15th. UBS Group upped their price objective on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. raised their target price on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st.

Hedge Funds Weigh In On Credicorp

A number of institutional investors have recently modified their holdings of BAP. Capital Fund Management S.A. bought a new position in Credicorp in the first quarter valued at approximately $2,482,000. SVB Wealth LLC acquired a new position in shares of Credicorp in the 1st quarter valued at $35,000. Synovus Financial Corp lifted its stake in shares of Credicorp by 163.6% in the 1st quarter. Synovus Financial Corp now owns 13,020 shares of the bank’s stock valued at $2,424,000 after purchasing an additional 8,080 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Credicorp by 276.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 133,823 shares of the bank’s stock worth $24,912,000 after purchasing an additional 98,300 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Credicorp by 84.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 9,200 shares of the bank’s stock worth $1,713,000 after purchasing an additional 4,200 shares during the period. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

Shares of Credicorp stock opened at $288.25 on Tuesday. The firm has a fifty day simple moving average of $262.06 and a 200-day simple moving average of $249.84. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp has a 1-year low of $165.51 and a 1-year high of $292.00. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.72 and a beta of 0.90.

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

Credicorp Company Profile

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.