Credicorp (NYSE:BAP) Trading Down 4.8% – Here’s What Happened

Credicorp Ltd. (NYSE:BAP)’s stock price fell 4.8% during trading on Monday . The company traded as low as $299.00 and last traded at $307.0740. 331,015 shares traded hands during trading, a decline of 30% from the average session volume of 472,267 shares. The stock had previously closed at $322.50.

Analyst Ratings Changes

BAP has been the topic of several analyst reports. Zacks Research cut Credicorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. UBS Group increased their price objective on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. The Goldman Sachs Group increased their price objective on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. increased their price objective on Credicorp from $412.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and an average target price of $356.40.

Credicorp Stock Performance

The firm has a fifty day simple moving average of $332.43 and a 200-day simple moving average of $319.75. The company has a market cap of $29.77 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.70 and a beta of 0.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The company 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, research analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Insider Activity

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the stock in a transaction dated Thursday, May 21st. The shares were 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 owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Credicorp

Hedge funds have recently made changes to their positions in the business. Capital World Investors acquired a new stake in Credicorp in the third quarter valued at about $434,014,000. Norges Bank acquired a new stake in Credicorp in the fourth quarter valued at about $150,814,000. William Blair Investment Management LLC lifted its position in Credicorp by 71.6% in the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock valued at $218,369,000 after purchasing an additional 342,308 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Credicorp in the fourth quarter valued at about $89,754,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Credicorp in the third quarter valued at about $78,211,000. Institutional investors and hedge funds 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.