Credicorp (NYSE:BAP) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Credicorp (NYSE:BAP) from a buy rating to a hold rating in a report released on Saturday.

A number of other analysts also recently issued reports on the company. Zacks Research upgraded Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. HSBC lowered Credicorp from a “buy” rating to a “hold” rating and lifted their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a report on Monday, December 15th. Hsbc Global Res raised Credicorp to a “hold” rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.60.

Credicorp Trading Up 0.9%

Shares of BAP stock opened at $288.25 on Friday. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.72 and a beta of 0.90. The company’s fifty day simple moving average is $262.06 and its two-hundred day simple moving average is $249.84. Credicorp has a 1 year low of $165.51 and a 1 year high of $292.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. As a group, analysts anticipate that Credicorp will post 21.9 earnings per share for the current year.

Institutional Investors Weigh In On Credicorp

Several institutional investors have recently added to or reduced their stakes in BAP. Mirabella Financial Services LLP bought a new position in shares of Credicorp during the third quarter valued at about $4,305,000. Swiss Life Asset Management Ltd raised its position in Credicorp by 20.1% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,846 shares of the bank’s stock valued at $2,356,000 after purchasing an additional 1,479 shares during the last quarter. First Affirmative Financial Network purchased a new stake in Credicorp in the 3rd quarter worth approximately $232,000. Danske Bank A S purchased a new stake in Credicorp in the 3rd quarter worth approximately $8,188,000. Finally, Morningstar Investment Management LLC bought a new stake in shares of Credicorp in the 3rd quarter worth approximately $4,294,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

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.