Credicorp (NYSE:BAP) Price Target Raised to $415.00 at JPMorgan Chase & Co.

Credicorp (NYSE:BAP) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $412.00 to $415.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.99% from the stock’s current price.

Several other equities analysts have also recently weighed in on BAP. Weiss Ratings raised Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 15th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. The Goldman Sachs Group lifted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $356.40.

Credicorp Price Performance

NYSE BAP traded down $5.25 during midday trading on Thursday, hitting $343.00. The company had a trading volume of 456,056 shares, compared to its average volume of 459,400. The company has a market capitalization of $32.37 billion, a PE ratio of 13.22, a P/E/G ratio of 0.78 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $331.67 and a 200-day moving average price of $315.88. Credicorp has a twelve month low of $206.60 and a twelve month high of $380.20.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The firm had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. As a group, analysts anticipate that Credicorp will post 29.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently bought and sold shares of BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Credicorp during the 1st quarter worth $78,000. Cetera Investment Advisers grew its position in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock worth $399,000 after acquiring an additional 476 shares during the last quarter. State Street Corp grew its position in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after acquiring an additional 19,361 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Credicorp during the 2nd quarter worth $355,000. Finally, Quantinno Capital Management LP grew its position in Credicorp by 24.7% during the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after acquiring an additional 1,083 shares during the last quarter. 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.