Credicorp (NYSE:BAP) Sets New 12-Month High – What’s Next?

Credicorp Ltd. (NYSE:BAP)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $285.99 and last traded at $286.1090, with a volume of 29777 shares trading hands. The stock had previously closed at $281.00.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BAP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 15th. Hsbc Global Res upgraded shares of Credicorp to a “hold” rating in a research note on Friday, September 5th. HSBC downgraded shares of Credicorp from a “buy” rating to a “hold” rating and lifted their target price for the company from $225.00 to $255.00 in a report on Friday, September 5th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.60.

Credicorp Stock Performance

The stock’s fifty day simple moving average is $261.46 and its 200-day simple moving average is $249.07. 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 company has a market capitalization of $22.67 billion, a PE ratio of 12.84, a PEG ratio of 0.72 and a beta of 0.90.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. On average, research analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BAP. Mirabella Financial Services LLP acquired a new stake in Credicorp in the 3rd quarter valued at about $4,305,000. Swiss Life Asset Management Ltd lifted its holdings in shares of Credicorp by 20.1% in the third quarter. Swiss Life Asset Management Ltd now owns 8,846 shares of the bank’s stock valued at $2,356,000 after purchasing an additional 1,479 shares in the last quarter. First Affirmative Financial Network purchased a new stake in shares of Credicorp in the third quarter valued at about $232,000. Danske Bank A S acquired a new stake in shares of Credicorp in the third quarter valued at approximately $8,188,000. Finally, Morningstar Investment Management LLC purchased a new position in shares of Credicorp during the 3rd quarter worth approximately $4,294,000. 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.