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

Shares of Credicorp Ltd. (NYSE:BAP) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $384.3333.

A number of brokerages have issued reports on BAP. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group raised their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group lifted their target price on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th.

Credicorp Price Performance

NYSE BAP opened at $394.86 on Thursday. Credicorp has a 12 month low of $230.45 and a 12 month high of $413.24. The firm has a market capitalization of $37.27 billion, a PE ratio of 15.22, a P/E/G ratio of 0.85 and a beta of 0.90. The company’s 50 day simple moving average is $376.68 and its 200 day simple moving average is $351.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Insider Activity

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction that occurred on Thursday, May 21st. The stock was 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 directly owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Credicorp

A number of large investors have recently added to or reduced their stakes in BAP. Oppenheimer Asset Management Inc. acquired a new position in Credicorp in the second quarter worth approximately $3,464,000. Wasatch Advisors LP lifted its position in shares of Credicorp by 65.9% during the 2nd quarter. Wasatch Advisors LP now owns 8,896 shares of the bank’s stock valued at $3,466,000 after acquiring an additional 3,535 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Credicorp by 4.5% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,369 shares of the bank’s stock valued at $1,702,000 after acquiring an additional 187 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Credicorp by 36.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,282 shares of the bank’s stock worth $889,000 after acquiring an additional 609 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Credicorp by 6.9% during the 2nd quarter. Confluence Investment Management LLC now owns 946 shares of the bank’s stock worth $369,000 after acquiring an additional 61 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.