Credicorp (NYSE:BAP) Shares Gap Down – Should You Sell?

Credicorp Ltd. (NYSE:BAP) shares gapped down before the market opened on Monday . The stock had previously closed at $316.31, but opened at $302.09. Credicorp shares last traded at $306.74, with a volume of 38,923 shares trading hands.

Analyst Ratings Changes

BAP has been the topic of several recent research reports. Zacks Research lowered shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised shares of Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. The Goldman Sachs Group lifted their price target 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, UBS Group lifted their price target on shares of Credicorp from $318.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $315.60.

Credicorp Price Performance

The stock has a market cap of $28.66 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $331.57 and its 200-day simple moving average is $311.78.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 22.05%. The firm had revenue of $1.81 billion for the quarter. As a group, sell-side analysts forecast that Credicorp Ltd. will post 29.09 EPS for the current year.

Institutional Investors Weigh In On Credicorp

Several institutional investors and hedge funds have recently made changes to their positions in BAP. TD Asset Management Inc grew its holdings in Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after acquiring an additional 29 shares during the last quarter. Cigna Investments Inc. New lifted its position in Credicorp by 2.8% during the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock valued at $336,000 after purchasing an additional 32 shares during the period. CIBC Private Wealth Group LLC lifted its position in Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after purchasing an additional 32 shares during the period. Perpetual Ltd lifted its position in Credicorp by 0.5% during the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock valued at $1,842,000 after purchasing an additional 34 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after acquiring an additional 42 shares during the last quarter. 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.