Credicorp Ltd. (NYSE:BAP) Given Consensus Rating of “Moderate Buy” by Brokerages

Credicorp Ltd. (NYSE:BAP) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $297.60.

A number of brokerages recently commented on BAP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, 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.

Institutional Trading of Credicorp

Several hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp in the 3rd quarter valued at about $35,000. MAI Capital Management increased its holdings in Credicorp by 5,300.0% in the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Credicorp during the second quarter worth approximately $38,000. Spire Wealth Management bought a new stake in shares of Credicorp in the 3rd quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new position in Credicorp during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Stock Performance

Shares of Credicorp stock opened at $331.43 on Friday. The firm has a 50 day simple moving average of $332.85 and a 200 day simple moving average of $287.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.07. Credicorp has a fifty-two week low of $165.51 and a fifty-two week high of $380.20. The firm has a market cap of $26.36 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.75 and a beta of 0.87.

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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. Sell-side analysts predict that Credicorp will post 21.9 earnings per share for the current fiscal year.

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.