Credicorp (NYSE:BAP) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Credicorp (NYSE:BAP) from a neutral rating to an overweight rating in a report issued on Tuesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $250.00 price objective on the bank’s stock, up from their prior price objective of $232.00.

BAP has been the subject of a number of other reports. ValuEngine cut shares of Credicorp from a hold rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Credicorp from a sell rating to a hold rating in a research note on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $258.00.

NYSE:BAP opened at $206.25 on Tuesday. Credicorp has a fifty-two week low of $200.34 and a fifty-two week high of $252.49. The stock has a market capitalization of $16.05 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.94 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.09. The company’s 50-day simple moving average is $224.90 and its 200-day simple moving average is $231.88.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in Credicorp in the 1st quarter worth $72,000. Parallel Advisors LLC increased its holdings in Credicorp by 24.2% in the 1st quarter. Parallel Advisors LLC now owns 328 shares of the bank’s stock worth $79,000 after acquiring an additional 64 shares in the last quarter. Huntington National Bank increased its holdings in Credicorp by 29.7% in the 2nd quarter. Huntington National Bank now owns 529 shares of the bank’s stock worth $121,000 after acquiring an additional 121 shares in the last quarter. Marshall Wace LLP purchased a new stake in Credicorp in the 1st quarter worth $201,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Credicorp in the 1st quarter worth $207,000. 67.53% of the stock is owned by institutional investors.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

See Also: Different Options Trading Strategies

Analyst Recommendations for Credicorp (NYSE:BAP)

Receive News & Ratings for Credicorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credicorp and related companies with MarketBeat.com's FREE daily email newsletter.