Zacks Investment Research Downgrades Credicorp (BAP) to Hold
Zacks Investment Research cut shares of Credicorp (NYSE:BAP) from a buy rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “
Other research analysts have also issued reports about the stock. HSBC lowered shares of Credicorp from a buy rating to a hold rating in a research report on Tuesday, November 14th. Bank of America lowered shares of Credicorp from a buy rating to a neutral rating in a research report on Monday, September 18th. ValuEngine lowered shares of Credicorp from a buy rating to a hold rating in a research report on Tuesday, December 12th. Citigroup lowered shares of Credicorp from a buy rating to a neutral rating in a research report on Friday, September 29th. Finally, Goldman Sachs Group reissued a buy rating and issued a $248.00 price target on shares of Credicorp in a research note on Monday, September 11th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $225.50.
Shares of Credicorp (BAP) traded up $0.54 during trading hours on Monday, reaching $220.13. 133,275 shares of the company traded hands, compared to its average volume of 203,450. Credicorp has a one year low of $150.71 and a one year high of $223.91. The stock has a market capitalization of $17,790.00, a price-to-earnings ratio of 14.33, a PEG ratio of 1.12 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.22 and a quick ratio of 1.22.
A number of institutional investors have recently bought and sold shares of BAP. American Century Companies Inc. lifted its stake in Credicorp by 710.5% in the third quarter. American Century Companies Inc. now owns 578,112 shares of the bank’s stock worth $118,525,000 after purchasing an additional 506,784 shares during the last quarter. FMR LLC lifted its stake in Credicorp by 14.7% in the second quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock worth $306,289,000 after purchasing an additional 218,893 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Credicorp by 67.4% in the third quarter. Principal Financial Group Inc. now owns 476,334 shares of the bank’s stock worth $97,658,000 after purchasing an additional 191,853 shares during the last quarter. APG Asset Management N.V. lifted its stake in Credicorp by 106.0% in the third quarter. APG Asset Management N.V. now owns 364,345 shares of the bank’s stock worth $74,698,000 after purchasing an additional 187,500 shares during the last quarter. Finally, LSV Asset Management bought a new stake in Credicorp in the second quarter worth $31,393,000. 65.99% of the stock is owned by institutional investors and hedge funds.
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Credicorp Company Profile
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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