Credicorp Ltd. (NYSE:BAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 “
Several other research analysts also recently issued reports on BAP. BidaskClub upgraded shares of Credicorp from a “buy” rating to a “strong-buy” rating in a report on Friday. UBS AG downgraded shares of Credicorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 27th. Finally, Credit Suisse Group set a $196.00 price target on shares of Credicorp and gave the stock a “buy” rating in a report on Saturday, May 6th.
Credicorp (NYSE:BAP) opened at 194.77 on Friday. Credicorp has a 12 month low of $144.23 and a 12 month high of $202.66. The company’s market capitalization is $15.48 billion. The firm has a 50-day moving average price of $185.97 and a 200-day moving average price of $170.46.
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Several hedge funds and other institutional investors have recently made changes to their positions in BAP. Capstone Asset Management Co. increased its position in shares of Credicorp by 8.9% in the first quarter. Capstone Asset Management Co. now owns 7,932 shares of the bank’s stock valued at $1,295,000 after buying an additional 649 shares during the period. Parametrica Management Ltd bought a new stake in Credicorp during the first quarter worth $329,000. Fox Run Management L.L.C. bought a new stake in Credicorp during the first quarter worth $376,000. Legato Capital Management LLC increased its stake in Credicorp by 16,230.0% in the first quarter. Legato Capital Management LLC now owns 2,857,750 shares of the bank’s stock worth $17,500,000 after buying an additional 2,840,250 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in Credicorp during the first quarter worth $744,000. Institutional investors own 70.34% of the company’s stock.
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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