Credicorp (NYSE:BAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $250.00 price target on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.90% from the company’s current price.
According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “
BAP has been the subject of a number of other research reports. ValuEngine downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup raised Credicorp from a “neutral” rating to a “buy” rating in a research report on Thursday, April 5th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Credicorp presently has an average rating of “Buy” and an average target price of $239.00.
Credicorp opened at $221.43 on Friday, MarketBeat reports. Credicorp has a twelve month low of $166.70 and a twelve month high of $239.54. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.25 and a quick ratio of 1.24. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.20 and a beta of 0.86.
A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in Credicorp by 15.4% during the 1st quarter. Legal & General Group Plc now owns 403,921 shares of the bank’s stock worth $91,668,000 after acquiring an additional 53,991 shares during the last quarter. Banco de Sabadell S.A acquired a new position in Credicorp during the 1st quarter worth approximately $156,000. Jane Street Group LLC boosted its position in Credicorp by 81.3% during the 1st quarter. Jane Street Group LLC now owns 3,434 shares of the bank’s stock worth $780,000 after acquiring an additional 1,540 shares during the last quarter. Barclays PLC boosted its holdings in shares of Credicorp by 3.3% in the 1st quarter. Barclays PLC now owns 132,371 shares of the bank’s stock valued at $30,054,000 after buying an additional 4,196 shares during the last quarter. Finally, NS Partners Ltd boosted its holdings in shares of Credicorp by 36.7% in the 1st quarter. NS Partners Ltd now owns 12,296 shares of the bank’s stock valued at $2,792,000 after buying an additional 3,300 shares during the last quarter. 66.45% of the stock is owned by hedge funds and other institutional investors.
Credicorp Company Profile
Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.
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