Credicorp Ltd. (NYSE:BAP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Credicorp Ltd. (NYSE:BAP) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $290.20.

A number of research analysts have recently weighed in on BAP shares. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. JPMorgan Chase & Co. increased their price target on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. The Goldman Sachs Group lifted their price objective on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th.

Institutional Trading of Credicorp

A number of hedge funds have recently modified their holdings of BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Credicorp during the first quarter valued at approximately $78,000. Callan Family Office LLC lifted its stake in shares of Credicorp by 232.0% in the 2nd quarter. Callan Family Office LLC now owns 3,599 shares of the bank’s stock valued at $804,000 after purchasing an additional 2,515 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Credicorp by 171.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 119,492 shares of the bank’s stock worth $26,603,000 after buying an additional 75,487 shares in the last quarter. INCA Investments LLC raised its position in shares of Credicorp by 5.8% in the second quarter. INCA Investments LLC now owns 193,947 shares of the bank’s stock worth $43,351,000 after acquiring an additional 10,687 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super boosted its stake in shares of Credicorp by 1.2% during the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 51,967 shares of the bank’s stock worth $11,616,000 after acquiring an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Price Performance

Shares of BAP stock opened at $347.89 on Wednesday. Credicorp has a fifty-two week low of $165.51 and a fifty-two week high of $380.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.79 and a beta of 0.87. The stock’s 50-day simple moving average is $310.43 and its 200-day simple moving average is $275.30.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share for the quarter, topping the consensus estimate of $6.05 by $0.12. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.71 billion. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. As a group, equities analysts forecast 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.