Credicorp (NYSE:BAP) Upgraded by UBS Group to Strong-Buy Rating

UBS Group upgraded shares of Credicorp (NYSE:BAP) from a buy rating to a strong-buy rating in a research note released on Monday, MarketBeat reports. The brokerage currently has $257.00 price target on the bank’s stock, up from their prior price target of $221.00.

Separately, Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $211.00.

Credicorp Stock Performance

Shares of NYSE:BAP opened at $213.42 on Monday. The firm’s 50 day simple moving average is $195.50 and its 200 day simple moving average is $189.56. Credicorp has a fifty-two week low of $153.27 and a fifty-two week high of $220.35. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.02 and a quick ratio of 1.07.

Credicorp Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, May 19th will be paid a $10.9577 dividend. This represents a yield of 4.5%. This is a boost from Credicorp’s previous annual dividend of $2.91. The ex-dividend date is Monday, May 19th. Credicorp’s payout ratio is presently 58.95%.

Institutional Investors Weigh In On Credicorp

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC grew its position in shares of Credicorp by 4.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,529 shares of the bank’s stock valued at $283,000 after purchasing an additional 62 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Credicorp by 4.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,555 shares of the bank’s stock worth $285,000 after buying an additional 63 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Credicorp by 4.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,628 shares of the bank’s stock valued at $298,000 after buying an additional 67 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Credicorp by 5.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,591 shares of the bank’s stock valued at $292,000 after buying an additional 76 shares during the period. Finally, Fiduciary Trust Co increased its position in shares of Credicorp by 4.3% during the fourth quarter. Fiduciary Trust Co now owns 1,939 shares of the bank’s stock worth $356,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Credicorp Company Profile

Credicorp Ltd. 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 Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.