Credicorp (NYSE:BAP) Stock Breaks Above 200 Day Moving Average – Here’s Why

Credicorp Ltd. (NYSE:BAP)’s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $361.45 and traded as high as $382.97. Credicorp shares last traded at $374.1030, with a volume of 245,642 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BAP shares. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised shares of Credicorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. The Goldman Sachs Group boosted their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. UBS Group increased their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings cut shares of Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 25th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and a consensus price target of $431.80.

Credicorp Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $35.31 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. The company has a 50-day moving average price of $381.74 and a 200-day moving average price of $361.45.

Hedge Funds Weigh In On Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Credicorp by 42.9% in the 2nd quarter. Allworth Financial LP now owns 170 shares of the bank’s stock valued at $66,000 after acquiring an additional 51 shares during the period. Confluence Investment Management LLC boosted its position in shares of Credicorp by 6.9% during the 2nd quarter. Confluence Investment Management LLC now owns 946 shares of the bank’s stock valued at $369,000 after purchasing an additional 61 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Credicorp during the 2nd quarter worth approximately $25,000. Summitry LLC increased its stake in shares of Credicorp by 5.0% in the 1st quarter. Summitry LLC now owns 1,397 shares of the bank’s stock valued at $474,000 after acquiring an additional 66 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Credicorp during the 2nd quarter valued at $26,000. Institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

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

Its principal businesses include Banco de Crédito del Perú, one of Peru’s leading banks; Mibanco, which focuses on microfinance and small-business lending; Pacífico Seguros, an insurance provider; Prima AFP, which manages private pension accounts; and Credicorp Capital, which offers investment banking, asset management, brokerage and related capital-markets services.

Credicorp’s operations are centered primarily in Peru, with selected investment banking and capital-markets activities serving clients elsewhere in the Latin American region.