Credicorp (NYSE:BAP) Sets New 12-Month High – Should You Buy?

Credicorp Ltd. (NYSE:BAP)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $347.60 and last traded at $349.2350, with a volume of 15237 shares trading hands. The stock had previously closed at $344.33.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of 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 issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.20.

Credicorp Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $285.17 and its 200 day moving average is $264.17. The company has a market cap of $27.78 billion, a P/E ratio of 15.75, a PEG ratio of 0.77 and a beta of 0.89.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.71 billion. As a group, sell-side analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current year.

Institutional Trading of Credicorp

A number of institutional investors have recently modified their holdings of the business. Summitry LLC bought a new stake in Credicorp during the 2nd quarter valued at $257,000. Asset Management One Co. Ltd. lifted its holdings in Credicorp by 19.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock worth $3,333,000 after purchasing an additional 2,023 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Credicorp by 17.4% during the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after purchasing an additional 4,140 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Credicorp by 46.6% in the 2nd quarter. Acadian Asset Management LLC now owns 464,098 shares of the bank’s stock worth $103,698,000 after purchasing an additional 147,573 shares during the period. Finally, Carrhae Capital LLP grew its holdings in Credicorp by 7.5% during the 2nd quarter. Carrhae Capital LLP now owns 213,806 shares of the bank’s stock valued at $47,790,000 after buying an additional 14,931 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

About Credicorp

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.