Credicorp (NYSE:BAP) Rating Increased to Hold at ValuEngine

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Credicorp (NYSE:BAP) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday, October 30th, ValuEngine reports.

A number of other research analysts have also recently issued reports on BAP. JPMorgan Chase & Co. raised shares of Credicorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $232.00 to $250.00 in a report on Tuesday, August 13th. Bank of America raised shares of Credicorp from an “underperform” rating to a “buy” rating in a report on Thursday, September 5th. Zacks Investment Research raised shares of Credicorp from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $245.00 to $250.00 in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $258.00.

NYSE:BAP traded down $10.58 during mid-day trading on Wednesday, reaching $206.75. The stock had a trading volume of 348,191 shares, compared to its average volume of 296,331. Credicorp has a twelve month low of $199.83 and a twelve month high of $252.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.07 and a beta of 0.70. The business has a 50 day simple moving average of $210.08 and a 200 day simple moving average of $218.84.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, November 7th. The bank reported $4.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.25 by ($0.16). Credicorp had a net margin of 24.65% and a return on equity of 16.48%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts expect that Credicorp will post 16.52 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new stake in Credicorp during the first quarter worth approximately $72,000. Parallel Advisors LLC boosted its holdings in shares of Credicorp by 19.9% in the 3rd quarter. Parallel Advisors LLC now owns 343 shares of the bank’s stock valued at $71,000 after purchasing an additional 57 shares during the last quarter. Bartlett & Co. LLC boosted its holdings in shares of Credicorp by 16.7% in the 3rd quarter. Bartlett & Co. LLC now owns 350 shares of the bank’s stock valued at $73,000 after purchasing an additional 50 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Credicorp by 29.7% in the 2nd quarter. Huntington National Bank now owns 529 shares of the bank’s stock valued at $121,000 after purchasing an additional 121 shares during the last quarter. Finally, Cerebellum GP LLC boosted its holdings in shares of Credicorp by 146.2% in the 3rd quarter. Cerebellum GP LLC now owns 645 shares of the bank’s stock valued at $134,000 after purchasing an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 65.52% of the company’s stock.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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Analyst Recommendations for Credicorp (NYSE:BAP)

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