Credicorp Ltd. (NYSE:BAP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Credicorp Ltd. (NYSE:BAP) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $384.3333.

BAP has been the subject of several analyst reports. UBS Group boosted their price target on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a report on Monday, June 15th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their target price on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday.

Insider Transactions at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the 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 transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors boosted its holdings in shares of Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock valued at $630,081,000 after purchasing an additional 565,490 shares during the last quarter. Norges Bank acquired a new stake in shares of Credicorp during the 4th quarter worth $150,814,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Credicorp in the 4th quarter worth $89,754,000. Invesco Ltd. raised its position in shares of Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after buying an additional 290,585 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Credicorp by 98.9% in the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after buying an additional 288,056 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Stock Performance

NYSE:BAP opened at $388.00 on Friday. The firm has a 50 day simple moving average of $358.92 and a 200-day simple moving average of $341.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $36.62 billion, a PE ratio of 14.96, a P/E/G ratio of 0.87 and a beta of 0.88. Credicorp has a 1-year low of $220.80 and a 1-year high of $403.30.

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.