Credicorp (NYSE:BAP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Credicorp (NYSE:BAP) from a neutral rating to an overweight rating in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has $482.00 price target on the bank’s stock, up from their prior price target of $453.00.

Other analysts have also recently issued research reports about the stock. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. The Goldman Sachs Group upped their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group increased their target price on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings upgraded Credicorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Credicorp currently has an average rating of “Moderate Buy” and a consensus price target of $431.80.

Credicorp Stock Down 0.6%

Shares of NYSE:BAP opened at $381.75 on Wednesday. Credicorp has a 1 year low of $230.45 and a 1 year high of $413.24. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $383.09 and its 200 day moving average is $358.03. The company has a market cap of $36.03 billion, a PE ratio of 14.14, a P/E/G ratio of 0.75 and a beta of 0.88.

Hedge Funds Weigh In On Credicorp

Several hedge funds have recently modified their holdings of BAP. BlackRock Inc. bought a new position in shares of Credicorp during the 2nd quarter valued at about $1,933,666,000. Capital World Investors grew its holdings in Credicorp by 34.7% during the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after buying an additional 565,490 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Credicorp by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after acquiring an additional 13,249 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Credicorp by 1.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,068,942 shares of the bank’s stock valued at $306,786,000 after acquiring an additional 15,886 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Credicorp by 15.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank’s stock valued at $285,854,000 after purchasing an additional 112,418 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.