The Goldman Sachs Group Issues Positive Forecast for Credicorp (NYSE:BAP) Stock Price

Credicorp (NYSE:BAP) had its price target raised by analysts at The Goldman Sachs Group from $329.00 to $374.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 3.85% from the company’s current price.

Other analysts have also recently issued reports about the company. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $375.00 to $480.00 in a report on Wednesday, June 17th. UBS Group increased their price objective on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. cut shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price target on the stock. in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $384.33.

Credicorp Stock Performance

BAP traded down $9.21 during trading on Thursday, reaching $388.99. The company’s stock had a trading volume of 128,654 shares, compared to its average volume of 472,952. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $357.59 and its 200-day moving average price is $341.31. Credicorp has a 52-week low of $220.80 and a 52-week high of $403.30. The company has a market capitalization of $36.71 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. The trade was a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is currently owned by insiders.

Institutional Trading of Credicorp

Large investors have recently modified their holdings of the business. TD Asset Management Inc boosted its stake in Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after buying an additional 29 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of Credicorp by 2.8% in the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock worth $336,000 after purchasing an additional 32 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Credicorp by 21.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after purchasing an additional 32 shares during the period. Perpetual Ltd lifted its stake in shares of Credicorp by 0.5% in the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock valued at $1,842,000 after purchasing an additional 34 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after purchasing an additional 42 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.