Credicorp (NYSE:BAP) Hits New 12-Month High – Here’s What Happened

Credicorp Ltd. (NYSE:BAP)’s stock price hit a new 52-week high on Monday . The company traded as high as $292.79 and last traded at $291.0450, with a volume of 50284 shares. The stock had previously closed at $286.41.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BAP. JPMorgan Chase & Co. raised their price objective on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. 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 report on Tuesday, September 16th. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average target price of $276.60.

Credicorp Price Performance

The firm has a market cap of $23.29 billion, a P/E ratio of 13.19, a PEG ratio of 0.65 and a beta of 0.89. The business’s fifty day simple moving average is $268.20 and its 200-day simple moving average is $254.35. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. As a group, analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. One Wealth Advisors LLC raised its stake in shares of Credicorp by 2.5% in the third quarter. One Wealth Advisors LLC now owns 1,781 shares of the bank’s stock valued at $474,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. raised its position in Credicorp by 1.6% in the 3rd quarter. Blue Trust Inc. now owns 2,843 shares of the bank’s stock worth $757,000 after purchasing an additional 45 shares during the period. Fiduciary Trust Co lifted its stake in Credicorp by 1.8% in the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock worth $759,000 after purchasing an additional 50 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Credicorp by 0.4% during the third quarter. Rhumbline Advisers now owns 14,412 shares of the bank’s stock valued at $3,838,000 after buying an additional 59 shares during the period. Finally, Aprio Wealth Management LLC grew its stake in shares of Credicorp by 5.2% during the third quarter. Aprio Wealth Management LLC now owns 1,317 shares of the bank’s stock valued at $351,000 after buying an additional 65 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.