Credicorp (BAP) Upgraded to “Outperform” by UBS Group

Credicorp (NYSE:BAP) was upgraded by equities researchers at UBS Group from a “market perform” rating to an “outperform” rating in a report issued on Thursday, The Fly reports.

Shares of NYSE:BAP opened at $220.68 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. Credicorp has a 1 year low of $189.69 and a 1 year high of $239.54. The firm has a market cap of $17.71 billion, a P/E ratio of 14.11, a PEG ratio of 1.31 and a beta of 0.81.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 8th. The bank reported $3.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.00 by ($0.15). Credicorp had a return on equity of 18.21% and a net margin of 25.82%. The firm had revenue of $982.21 million for the quarter. Analysts anticipate that Credicorp will post 15.77 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Highstreet Asset Management Inc. raised its holdings in shares of Credicorp by 13.8% during the third quarter. Highstreet Asset Management Inc. now owns 2,041 shares of the bank’s stock worth $455,000 after acquiring an additional 248 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Credicorp by 14.8% during the second quarter. Janney Montgomery Scott LLC now owns 2,192 shares of the bank’s stock worth $493,000 after buying an additional 283 shares during the last quarter. Aviva PLC increased its position in Credicorp by 1.8% during the second quarter. Aviva PLC now owns 16,969 shares of the bank’s stock worth $3,820,000 after buying an additional 300 shares during the last quarter. Commonwealth Bank of Australia increased its position in Credicorp by 3.3% during the second quarter. Commonwealth Bank of Australia now owns 9,469 shares of the bank’s stock worth $2,125,000 after buying an additional 300 shares during the last quarter. Finally, West Branch Capital LLC increased its position in Credicorp by 3.1% during the third quarter. West Branch Capital LLC now owns 10,801 shares of the bank’s stock worth $2,409,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 66.36% of the company’s stock.

About Credicorp

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.

See Also: Systematic Risk

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