Credicorp (BAP) Cut to Strong Sell at Zacks Investment Research

Credicorp (NYSE:BAP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday.

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

A number of other research firms also recently weighed in on BAP. ValuEngine downgraded shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet upgraded shares of Credicorp from a “c+” rating to a “b-” rating in a research note on Wednesday, January 23rd. Bank of America downgraded shares of Credicorp from a “neutral” rating to an “underperform” rating in a research note on Monday. JPMorgan Chase & Co. cut Credicorp from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $232.00 to $240.00 in a report on Monday. Finally, UBS Group raised Credicorp from a “market perform” rating to an “outperform” rating in a report on Thursday, December 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Credicorp presently has an average rating of “Hold” and an average target price of $254.50.

Shares of Credicorp stock traded down $3.11 during midday trading on Monday, hitting $236.50. The company had a trading volume of 609,686 shares, compared to its average volume of 246,239. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.53 and a beta of 0.72. The company has a current ratio of 1.18, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85. Credicorp has a 1-year low of $207.41 and a 1-year high of $250.40.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Thursday, November 8th. The bank reported $3.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.00 by ($0.15). The company had revenue of $982.21 million during the quarter. Credicorp had a return on equity of 17.24% and a net margin of 25.05%. As a group, research analysts forecast that Credicorp will post 16.99 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Teachers Advisors LLC raised its holdings in shares of Credicorp by 5.0% in the third quarter. Teachers Advisors LLC now owns 33,290 shares of the bank’s stock valued at $7,426,000 after buying an additional 1,600 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Credicorp by 5.9% in the third quarter. TIAA CREF Investment Management LLC now owns 108,441 shares of the bank’s stock valued at $24,191,000 after buying an additional 6,000 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Credicorp by 1.5% in the third quarter. BlackRock Inc. now owns 3,545,396 shares of the bank’s stock valued at $790,907,000 after buying an additional 50,870 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Credicorp by 716.5% in the fourth quarter. Quadrant Capital Group LLC now owns 841 shares of the bank’s stock valued at $184,000 after buying an additional 738 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its holdings in shares of Credicorp by 6.4% in the third quarter. ClariVest Asset Management LLC now owns 61,498 shares of the bank’s stock valued at $13,719,000 after buying an additional 3,700 shares during the last quarter. 65.86% of the stock is owned by institutional investors.

About Credicorp

Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.

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