Brokerages Set Credicorp Ltd. (NYSE:BAP) Target Price at $250.00

Shares of Credicorp Ltd. (NYSE:BAP) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $250.00.

Several equities research analysts recently weighed in on BAP shares. UBS Group increased their target price on shares of Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Citigroup increased 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. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Wall Street Zen raised shares of Credicorp from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research report on Friday, September 5th.

Credicorp Stock Up 0.3%

BAP stock opened at $254.78 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. Credicorp has a 52-week low of $165.51 and a 52-week high of $280.88. The company has a 50-day moving average of $259.21 and a two-hundred day moving average of $226.70. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new position in Credicorp in the first quarter worth about $35,000. MAI Capital Management raised its position in Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Credicorp in the second quarter worth about $38,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Credicorp during the first quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Credicorp by 2,170.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank’s stock worth $44,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Credicorp

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.