Credicorp (NYSE:BAP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Credicorp (NYSE:BAP) had its price objective raised by equities researchers at The Goldman Sachs Group from $329.00 to $374.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 4.50% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. UBS Group boosted their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. downgraded Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a research report on Monday, June 15th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $375.00 to $480.00 in a research note on Wednesday, June 17th. Finally, Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Five 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 stock has an average rating of “Moderate Buy” and an average target price of $384.33.

Credicorp Stock Performance

Shares of NYSE:BAP opened at $391.64 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Credicorp has a 12 month low of $224.94 and a 12 month high of $403.30. The company has a market capitalization of $36.96 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.84 and a beta of 0.88. The firm’s 50-day moving average is $360.14 and its 200 day moving average is $342.34.

Insider Buying and Selling

In related news, 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 value of $362,137.50. Following the completion of the sale, the chief financial officer owned 1,745 shares in the company, valued at approximately $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Diego Antonio Cavero sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Credicorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors raised its stake in Credicorp by 34.7% in 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 in the last quarter. Norges Bank bought a new stake in Credicorp during the 4th quarter valued at $150,814,000. PFA Pension Forsikringsaktieselskab bought a new stake in Credicorp during the 4th quarter valued at $89,754,000. Invesco Ltd. boosted its position in Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after acquiring an additional 290,585 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Credicorp by 98.9% in the 4th quarter. Principal Financial Group Inc. now owns 579,231 shares of the bank’s stock valued at $166,239,000 after acquiring an additional 288,056 shares during the period. 89.81% of the stock is owned by institutional investors.

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.