Credicorp (NYSE:BAP) Shares Gap Up – Time to Buy?

Shares of Credicorp Ltd. (NYSE:BAP) gapped up prior to trading on Tuesday . The stock had previously closed at $319.89, but opened at $341.70. Credicorp shares last traded at $360.3080, with a volume of 166,006 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. The Goldman Sachs Group raised their target price on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, UBS Group raised their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.40.

Credicorp Trading Up 8.3%

The stock has a market cap of $32.70 billion, a PE ratio of 13.33, a P/E/G ratio of 0.70 and a beta of 0.89. The business’s fifty day moving average is $332.24 and its 200 day moving average is $320.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. As a group, analysts predict that Credicorp Ltd. will post 29.61 earnings per share for the current year.

Insider Transactions at Credicorp

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the transaction, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. acquired a new position in Credicorp during the third quarter worth about $35,000. Raymond James Financial Inc. purchased a new stake in shares of Credicorp during the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Credicorp during the first quarter worth about $40,000. Kestra Advisory Services LLC purchased a new stake in shares of Credicorp during the fourth quarter worth about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Credicorp during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Company Profile

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.