Credicorp (NYSE:BAP) Price Target Raised to $374.00

Credicorp (NYSE:BAP) had its target price lifted by The Goldman Sachs Group from $329.00 to $374.00 in a research report sent to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the bank’s stock.

BAP has been the topic of a number of other research reports. Morgan Stanley upgraded 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 research report on Wednesday, June 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group upped their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a report on Monday, June 15th. Finally, Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.33.

Credicorp Stock Performance

NYSE BAP opened at $391.64 on Thursday. The firm’s fifty day moving average price is $360.14 and its two-hundred day moving average price is $342.34. The stock has a market cap of $36.96 billion, a PE ratio of 15.10, a PEG ratio of 0.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp has a fifty-two week low of $224.94 and a fifty-two week high of $403.30.

Insider Buying and Selling at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. The trade was a 38.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. This trade represents a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in shares of Credicorp by 65.9% in the 2nd quarter. Wasatch Advisors LP now owns 8,896 shares of the bank’s stock valued at $3,466,000 after purchasing an additional 3,535 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Credicorp by 4.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,369 shares of the bank’s stock valued at $1,702,000 after buying an additional 187 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Credicorp by 36.4% in the second quarter. Assenagon Asset Management S.A. now owns 2,282 shares of the bank’s stock valued at $889,000 after buying an additional 609 shares during the period. Confluence Investment Management LLC boosted its position in Credicorp by 6.9% during the second quarter. Confluence Investment Management LLC now owns 946 shares of the bank’s stock valued at $369,000 after acquiring an additional 61 shares during the last quarter. Finally, Rathbones Group PLC acquired a new stake in Credicorp during the 1st quarter worth about $260,000. Institutional investors own 89.81% of the company’s stock.

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.