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

Shares of Credicorp Ltd. (NYSE:BAP) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three investment 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 brokerages that have covered the stock in the last year is $356.40.

A number of research firms have recently weighed in on BAP. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday. UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th.

Credicorp Trading Down 2.0%

Shares of BAP stock opened at $362.03 on Tuesday. Credicorp has a 52-week low of $213.75 and a 52-week high of $380.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50-day simple moving average of $335.02 and a two-hundred day simple moving average of $324.07. The company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.80 and a beta of 0.89.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The business had revenue of $1.81 billion during the quarter. Research analysts anticipate that Credicorp will post 29.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of Credicorp

Institutional investors have recently modified their holdings of the business. Capital World Investors grew its holdings in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after acquiring an additional 565,490 shares during the last quarter. Royal Bank of Canada grew its holdings in Credicorp by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after acquiring an additional 13,249 shares during the last quarter. Invesco Ltd. grew its holdings in Credicorp by 2.3% in the 4th 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. State Street Corp grew its holdings in Credicorp by 5.5% in the 4th quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock worth $383,685,000 after acquiring an additional 69,329 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Credicorp by 2.2% in the 4th quarter. Schroder Investment Management Group now owns 1,107,420 shares of the bank’s stock worth $317,830,000 after acquiring an additional 23,777 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.