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

Credicorp Ltd. (NYSE:BAP) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $250.00.

A number of brokerages have issued reports on BAP. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Saturday, September 27th. The Goldman Sachs Group raised shares of Credicorp from a “sell” rating to a “neutral” rating and raised their target price for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Citigroup raised their target price on shares of Credicorp from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Hsbc Global Res upgraded Credicorp to a “hold” rating in a research report on Friday, September 5th.

Credicorp Trading Up 0.7%

Shares of BAP stock opened at $264.48 on Thursday. Credicorp has a 52-week low of $165.51 and a 52-week high of $280.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $21.04 billion, a PE ratio of 12.53, a PEG ratio of 0.71 and a beta of 1.11. The stock has a fifty day simple moving average of $257.52 and a two-hundred day simple moving average of $224.48.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.52 billion. On average, analysts predict that Credicorp will post 21.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management grew its holdings in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter worth about $38,000. SVB Wealth LLC bought a new stake in shares of Credicorp in the 1st quarter worth about $35,000. Cullen Frost Bankers Inc. bought a new stake in shares of Credicorp in the 1st quarter worth about $40,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Credicorp by 2,170.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank’s stock worth $44,000 after buying an additional 217 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.