Credicorp (NYSE:BAP) Hits New 52-Week High – Should You Buy?

Credicorp Ltd. (NYSE:BAP)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $385.91 and last traded at $382.8460, with a volume of 30869 shares changing hands. The stock had previously closed at $364.28.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BAP. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. UBS Group raised their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price on the stock. in a research report on Monday. Morgan Stanley raised Credicorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $375.00 to $480.00 in a report on Wednesday. Finally, HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Five equities research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $377.00.

Credicorp Stock Up 7.0%

The firm has a market cap of $36.80 billion, a P/E ratio of 15.05, a PEG ratio of 0.78 and a beta of 0.89. The firm’s 50-day moving average price is $335.52 and its 200 day moving average price is $324.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02.

Credicorp (NYSE:BAP) last announced its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. On average, equities research analysts expect that Credicorp Ltd. will post 29.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the sale, the chief executive officer directly owned 7,307 shares in the company, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. The trade was a 38.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sovran Advisors LLC acquired a new stake in shares of Credicorp in the fourth quarter valued at $1,358,000. Causeway Capital Management LLC lifted its holdings in Credicorp by 11.9% in the 3rd quarter. Causeway Capital Management LLC now owns 215,628 shares of the bank’s stock valued at $57,417,000 after acquiring an additional 22,870 shares during the last quarter. Marshall Financial Group LLC acquired a new stake in Credicorp in the 4th quarter valued at about $912,000. Capital World Investors bought a new position in shares of Credicorp during the 3rd quarter valued at about $434,014,000. Finally, Ninety One North America Inc. grew its stake in shares of Credicorp by 9.9% in the 4th quarter. Ninety One North America Inc. now owns 166,814 shares of the bank’s stock worth $47,876,000 after purchasing an additional 14,994 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.