Credicorp (NYSE:BAP) Hits New 1-Year High – Time to Buy?

Credicorp Ltd. (NYSE:BAP)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $292.79 and last traded at $291.0450, with a volume of 50284 shares traded. The stock had previously closed at $286.41.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. UBS Group lifted their price objective on Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and an average price target of $276.60.

Credicorp Trading Down 0.6%

The stock has a market cap of $23.38 billion, a P/E ratio of 13.25, a PEG ratio of 0.67 and a beta of 0.89. The firm’s 50-day simple moving average is $269.63 and its 200 day simple moving average is $255.42. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.71 billion. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Institutional Trading of Credicorp

Several large investors have recently made changes to their positions in BAP. Brown Brothers Harriman & Co. bought a new position in Credicorp during the third quarter valued at about $35,000. MAI Capital Management increased its holdings in Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Credicorp in the second quarter valued at $38,000. Spire Wealth Management bought a new position in shares of Credicorp in the third quarter valued at about $42,000. Finally, Quarry LP acquired a new position in Credicorp during the 3rd quarter worth about $46,000. 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.