Credicorp (NYSE:BAP) Price Target Raised to $330.00 at The Goldman Sachs Group

Credicorp (NYSE:BAP) had its target price lifted by The Goldman Sachs Group from $293.00 to $330.00 in a report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the bank’s stock.

A number of other research analysts have also recently commented on BAP. JPMorgan Chase & Co. increased their target price on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $297.60.

Credicorp Trading Up 1.4%

Shares of BAP opened at $334.53 on Tuesday. Credicorp has a 1-year low of $165.51 and a 1-year high of $380.20. The company has a market capitalization of $26.61 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.73 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. The firm’s 50 day simple moving average is $316.83 and its 200 day simple moving average is $278.82.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. Sell-side analysts forecast that Credicorp will post 21.9 earnings per share for the current fiscal year.

Institutional Trading of Credicorp

Several hedge funds and other institutional investors have recently bought and sold shares of BAP. TD Asset Management Inc lifted its stake in Credicorp by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after purchasing an additional 29 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Credicorp by 2.8% in the fourth quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock worth $336,000 after purchasing an additional 32 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Credicorp by 21.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after purchasing an additional 32 shares during the last quarter. Perpetual Ltd lifted its position in shares of Credicorp by 0.5% in the fourth quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after buying an additional 34 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Credicorp by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock valued at $2,916,000 after buying an additional 42 shares during the last quarter. 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.