Credicorp (NYSE:BAP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Credicorp (NYSE:BAP) had its price target lifted by equities research analysts at The Goldman Sachs Group from $263.00 to $293.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 6.02% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price 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. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, UBS Group increased their price target on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. 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 stock. According to MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average price target of $290.20.

Credicorp Trading Up 1.5%

Credicorp stock traded up $4.61 during midday trading on Tuesday, reaching $311.76. The stock had a trading volume of 187,831 shares, compared to its average volume of 314,405. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.68 and a beta of 0.89. Credicorp has a 52-week low of $165.51 and a 52-week high of $311.06. The company has a fifty day moving average of $272.89 and a 200 day moving average of $257.77.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.71 billion. On average, analysts anticipate that Credicorp will post 21.9 earnings per share for the current fiscal year.

Institutional Trading of Credicorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summitry LLC acquired a new stake in Credicorp during the second quarter worth $257,000. Asset Management One Co. Ltd. grew its holdings in shares of Credicorp by 19.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock worth $3,333,000 after purchasing an additional 2,023 shares during the period. Acadian Asset Management LLC increased its position in shares of Credicorp by 46.6% during the 2nd quarter. Acadian Asset Management LLC now owns 464,098 shares of the bank’s stock worth $103,698,000 after purchasing an additional 147,573 shares during the last quarter. Carrhae Capital LLP raised its holdings in Credicorp by 7.5% in the 2nd quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after buying an additional 14,931 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Credicorp in the second quarter valued at about $418,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.