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

Shares of Credicorp Ltd. (NYSE:BAP) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $418.40.

A number of equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. The Goldman Sachs Group increased their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group upped their price target on Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings cut Credicorp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, August 20th.

Insider Buying and Selling

In related news, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction on 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 completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Credicorp during the first quarter worth $78,000. Cetera Investment Advisers lifted its stake in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after acquiring an additional 476 shares in the last quarter. State Street Corp boosted its holdings in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after acquiring an additional 19,361 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Credicorp during the 2nd quarter worth $355,000. Finally, Quantinno Capital Management LP grew its stake in shares of Credicorp by 24.7% in the 2nd quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after acquiring an additional 1,083 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Price Performance

Credicorp stock opened at $369.53 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $34.88 billion, a PE ratio of 13.69, a P/E/G ratio of 0.72 and a beta of 0.90. Credicorp has a 12 month low of $230.45 and a 12 month high of $413.24. The stock has a 50-day moving average price of $385.48 and a two-hundred day moving average price of $354.59.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Friday, August 14th. The bank reported $7.33 earnings per share for the quarter, topping the consensus estimate of $7.31 by $0.02. Credicorp had a return on equity of 20.52% and a net margin of 25.04%.The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Analysts expect that Credicorp will post 29.41 EPS for the current 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.