Credicorp Ltd. (NYSE:BAP) Given Average Recommendation of “Buy” by Brokerages
Shares of Credicorp Ltd. (NYSE:BAP) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $164.33.
A number of brokerages recently commented on BAP. Zacks Investment Research upgraded Credicorp from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating and issued a $154.00 target price on shares of Credicorp in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on Credicorp from $166.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th.
Shares of Credicorp (NYSE:BAP) opened at 151.16 on Tuesday. The company has a 50-day moving average of $159.35 and a 200 day moving average of $146.25. The firm’s market cap is $12.03 billion. Credicorp has a 12-month low of $84.72 and a 12-month high of $166.26.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAP. BlackRock Group LTD raised its position in Credicorp by 0.7% in the first quarter. BlackRock Group LTD now owns 1,037,201 shares of the company’s stock valued at $135,883,000 after buying an additional 7,262 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Credicorp by 30.8% in the first quarter. BlackRock Inc. now owns 80,632 shares of the company’s stock valued at $10,564,000 after buying an additional 19,007 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Credicorp by 10.4% in the first quarter. Franklin Resources Inc. now owns 267,300 shares of the company’s stock valued at $35,019,000 after buying an additional 25,127 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Credicorp by 214.1% in the first quarter. Teachers Advisors Inc. now owns 65,923 shares of the company’s stock valued at $8,637,000 after buying an additional 44,937 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Credicorp by 102.1% in the first quarter. TIAA CREF Investment Management LLC now owns 163,966 shares of the company’s stock valued at $21,481,000 after buying an additional 82,832 shares during the last quarter. Hedge funds and other institutional investors own 65.73% of the company’s stock.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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