Credicorp Ltd. (NYSE:BAP) Receives $377.00 Average Price Target from Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $377.00.

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research report on Monday, June 15th. UBS Group increased their price target on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price target for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Morgan Stanley raised shares of Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Finally, Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th.

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 stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’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 value of $1,116,500.00. Following the completion of the transaction, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by company insiders.

Institutional Trading of Credicorp

A number of institutional investors have recently bought and sold shares of the company. Sovran Advisors LLC purchased a new stake in shares of Credicorp in the fourth quarter valued at $1,358,000. Marshall Financial Group LLC purchased a new position in Credicorp during the fourth quarter worth about $912,000. Assetmark Inc. boosted its stake in Credicorp by 8.4% in the 4th quarter. Assetmark Inc. now owns 21,820 shares of the bank’s stock worth $6,262,000 after buying an additional 1,688 shares during the last quarter. Ninety One North America Inc. boosted its stake in Credicorp by 9.9% in the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after buying an additional 14,994 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Credicorp by 7,441.9% in the 4th quarter. SG Americas Securities LLC now owns 32,053 shares of the bank’s stock worth $9,199,000 after buying an additional 31,628 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Stock Up 0.7%

BAP opened at $391.84 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $356.17 and a 200-day simple moving average of $340.54. The stock has a market capitalization of $36.98 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.85 and a beta of 0.88. Credicorp has a 12 month low of $216.87 and a 12 month high of $403.30.

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.