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

Credicorp Ltd. (NYSE:BAP) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $297.60.

BAP has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. upped their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Finally, Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th.

Credicorp Stock Down 0.8%

BAP opened at $331.43 on Friday. Credicorp has a twelve month low of $165.51 and a twelve month high of $380.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 1.02. The firm has a market cap of $26.36 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 0.75 and a beta of 0.87. The business has a 50 day moving average price of $332.85 and a 200 day moving average price of $287.44.

Credicorp (NYSE:BAP) last issued its earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 20.43% and a net margin of 24.53%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. Research analysts forecast that Credicorp will post 21.9 EPS for the current year.

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Credicorp by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock valued at $808,985,000 after purchasing an additional 223,497 shares during the period. Capital World Investors boosted its position in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after buying an additional 565,490 shares during the period. JPMorgan Chase & Co. increased its holdings in Credicorp by 4.2% during the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock valued at $368,873,000 after buying an additional 67,249 shares during the period. Invesco Ltd. grew its stake in shares of Credicorp by 2.3% during the fourth quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock worth $396,287,000 after acquiring an additional 31,383 shares during the last quarter. Finally, State Street Corp lifted its stake in Credicorp by 5.5% during the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock valued at $383,685,000 after acquiring an additional 69,329 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.