Credicorp (NYSE:BAP) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Credicorp (NYSE:BAP) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

BAP has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. The Goldman Sachs Group increased their price objective on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Trading Up 0.7%

Shares of NYSE:BAP opened at $354.96 on Tuesday. Credicorp has a 52-week low of $165.51 and a 52-week high of $380.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $28.23 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.87. The company has a 50-day simple moving average of $325.23 and a 200 day simple moving average of $282.99.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). Credicorp had a return on equity of 21.54% and a net margin of 24.53%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Sell-side analysts forecast that Credicorp will post 21.9 earnings per share for the current year.

Institutional Investors Weigh In On Credicorp

A number of large investors have recently added to or reduced their stakes in BAP. Principal Financial Group Inc. raised its holdings in shares of Credicorp by 42.2% during the 3rd quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock worth $77,534,000 after buying an additional 86,340 shares in the last quarter. Nordea Investment Management AB grew its position in Credicorp by 17.4% in the third quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock valued at $7,479,000 after acquiring an additional 4,140 shares during the last quarter. Summitry LLC acquired a new position in Credicorp during the second quarter worth about $257,000. Asset Management One Co. Ltd. raised its stake in Credicorp by 19.3% during the third quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock worth $3,333,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Credicorp by 25.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock worth $77,551,000 after acquiring an additional 58,690 shares during the last quarter. Institutional investors and hedge funds 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.