Credicorp Ltd. (NYSE:BAP) Receives $356.40 Average Target Price from Analysts

Shares of Credicorp Ltd. (NYSE:BAP) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $377.00.

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th.

Credicorp Trading Down 0.5%

NYSE:BAP opened at $380.96 on Tuesday. The firm has a market cap of $35.95 billion, a P/E ratio of 14.69, a PEG ratio of 0.83 and a beta of 0.89. 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 stock’s 50 day simple moving average is $338.55 and its 200-day simple moving average is $328.40. Credicorp has a 12-month low of $213.75 and a 12-month high of $398.52.

Credicorp (NYSE:BAP) last released its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. Equities analysts anticipate that Credicorp will post 29.52 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’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 transaction, the chief financial officer owned 1,745 shares of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the transaction, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of Credicorp

Several large investors have recently bought and sold shares of the company. Rathbones Group PLC acquired a new stake in Credicorp in the first quarter valued at $260,000. Summitry LLC grew its holdings in Credicorp by 5.0% in the first quarter. Summitry LLC now owns 1,397 shares of the bank’s stock valued at $474,000 after purchasing an additional 66 shares during the last quarter. Amundi grew its holdings in Credicorp by 11.7% in the first quarter. Amundi now owns 423,450 shares of the bank’s stock valued at $143,626,000 after purchasing an additional 44,469 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Credicorp by 91.0% in the first quarter. EverSource Wealth Advisors LLC now owns 359 shares of the bank’s stock valued at $122,000 after purchasing an additional 171 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Credicorp by 69.7% in the first quarter. California State Teachers Retirement System now owns 10,310 shares of the bank’s stock valued at $3,497,000 after purchasing an additional 4,233 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Credicorp

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.