Credicorp (NYSE:BAP) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Credicorp (NYSE:BAP) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on BAP. JPMorgan Chase & Co. raised their price objective on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. The Goldman Sachs Group increased their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $297.60.

Credicorp Stock Performance

Shares of BAP opened at $355.12 on Tuesday. The firm’s 50 day moving average is $326.72 and its 200-day moving average is $283.49. The stock has a market capitalization of $28.25 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. Credicorp has a 12-month low of $165.51 and a 12-month high of $380.20.

Credicorp (NYSE:BAP) last released its earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. Equities research analysts anticipate that Credicorp will post 21.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Credicorp

Several institutional investors and hedge funds have recently bought and sold shares of BAP. MidFirst Bank purchased a new stake in shares of Credicorp in the fourth quarter worth approximately $77,000. Compound Planning Inc. grew its position in Credicorp by 9.2% during the fourth quarter. Compound Planning Inc. now owns 1,772 shares of the bank’s stock valued at $509,000 after purchasing an additional 150 shares in the last quarter. Invesco Ltd. increased its stake in Credicorp by 2.3% in the 4th quarter. Invesco Ltd. now owns 1,380,791 shares of the bank’s stock valued at $396,287,000 after buying an additional 31,383 shares during the period. Vident Advisory LLC lifted its position in Credicorp by 4.2% in the 4th quarter. Vident Advisory LLC now owns 12,327 shares of the bank’s stock worth $3,538,000 after buying an additional 494 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Credicorp during the 4th quarter valued at $302,000. Hedge funds and other 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.