Credicorp (NYSE:BAP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Credicorp (NYSE:BAP) had its target price raised by stock analysts at The Goldman Sachs Group from $293.00 to $330.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 4.58% from the company’s previous close.

BAP has been the subject of several other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Finally, Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Trading Up 3.8%

BAP stock opened at $345.84 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a market cap of $27.51 billion, a P/E ratio of 14.23, a PEG ratio of 0.76 and a beta of 0.87. The business has a fifty day moving average of $318.21 and a 200-day moving average of $279.29.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. As a group, equities research analysts expect that Credicorp will post 21.9 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp during the third quarter worth about $35,000. MAI Capital Management increased its stake in Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Credicorp during the 2nd quarter worth approximately $38,000. Spire Wealth Management bought a new position in Credicorp in the third quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new position in Credicorp in the fourth quarter valued at approximately $42,000. 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.