Credicorp (NYSE:BAP) Sets New 52-Week High – Should You Buy?

Credicorp Ltd. (NYSE:BAP) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $400.57 and last traded at $400.0150, with a volume of 6295 shares traded. The stock had previously closed at $391.92.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BAP shares. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lowered shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research report on Monday, June 15th. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. UBS Group raised their price target on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings cut shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.00.

Credicorp Stock Performance

The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $351.75 and a 200 day moving average of $338.32.

Insider Activity at Credicorp

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction that occurred 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 directly owned 1,745 shares of the company’s stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by insiders.

Institutional Trading of Credicorp

Several institutional investors and hedge funds have recently made changes to their positions in BAP. Capital World Investors boosted its holdings in Credicorp by 34.7% during the fourth quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after buying an additional 565,490 shares during the last quarter. Norges Bank acquired a new stake in shares of Credicorp in the 4th quarter valued at approximately $150,814,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Credicorp in the 4th quarter valued at approximately $89,754,000. Invesco Ltd. boosted its stake in Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after acquiring an additional 290,585 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Credicorp by 98.9% during the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock worth $166,239,000 after acquiring an additional 288,056 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.