Brokerages Set Credicorp Ltd. (NYSE:BAP) PT at $290.20

Shares of Credicorp Ltd. (NYSE:BAP) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $290.20.

Several brokerages recently weighed in on BAP. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. The Goldman Sachs Group increased their target price on shares of Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st.

Credicorp Trading Down 3.4%

NYSE:BAP opened at $329.36 on Wednesday. Credicorp has a 12 month low of $165.51 and a 12 month high of $380.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $314.46 and its 200 day moving average is $276.89. The stock has a market capitalization of $26.20 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.75 and a beta of 0.87.

Credicorp (NYSE:BAP) last released its earnings results on Thursday, February 12th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%. Sell-side analysts expect that Credicorp will post 21.9 earnings per share for the current year.

Hedge Funds Weigh In On Credicorp

Several hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Credicorp by 7.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock worth $808,985,000 after buying an additional 223,497 shares in the last quarter. Capital World Investors lifted its stake in Credicorp by 34.7% in the 4th quarter. Capital World Investors now owns 2,195,404 shares of the bank’s stock worth $630,081,000 after purchasing an additional 565,490 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Credicorp by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock worth $368,873,000 after purchasing an additional 67,249 shares in the last quarter. Invesco Ltd. grew its position in shares of Credicorp by 27.4% during the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 290,585 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock worth $383,685,000 after purchasing an additional 69,329 shares during the period. 89.81% of the stock is currently owned by hedge funds and other 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.