Zacks Investment Research upgraded shares of Credicorp (NYSE:BAP) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $239.00 price objective on the bank’s stock.
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 “
BAP has been the topic of a number of other reports. lowered shares of Credicorp from a buy rating to a hold rating in a report on Monday, November 13th. lowered shares of Credicorp from a buy rating to a hold rating in a research note on Tuesday, November 14th. Goldman Sachs Group reiterated a buy rating and set a $248.00 price target on shares of Credicorp in a research note on Monday, September 11th. Citigroup lowered shares of Credicorp from a buy rating to a neutral rating in a research note on Friday, September 29th. Finally, ValuEngine lowered shares of Credicorp from a buy rating to a hold rating in a research note on Tuesday, December 12th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Credicorp currently has a consensus rating of Buy and an average target price of $225.50.
Shares of Credicorp (NYSE:BAP) opened at $223.17 on Wednesday. Credicorp has a fifty-two week low of $150.71 and a fifty-two week high of $223.91. The firm has a market cap of $17,710.00, a price-to-earnings ratio of 14.53, a PEG ratio of 1.10 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 large investors have recently made changes to their positions in BAP. Schwab Charles Investment Management Inc. raised its stake in Credicorp by 27.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,622 shares of the bank’s stock worth $14,284,000 after acquiring an additional 17,073 shares in the last quarter. Blair William & Co. IL acquired a new stake in Credicorp during the 2nd quarter worth $239,000. LSV Asset Management acquired a new stake in Credicorp during the 2nd quarter worth $31,393,000. Schroder Investment Management Group raised its stake in Credicorp by 11.3% during the 2nd quarter. Schroder Investment Management Group now owns 708,407 shares of the bank’s stock worth $127,896,000 after acquiring an additional 71,922 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Credicorp by 0.3% in the second quarter. Commonwealth Bank of Australia now owns 7,895 shares of the bank’s stock valued at $1,415,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.
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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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