Credicorp (NYSE:BAP) Shares Down 4.8% – Here’s What Happened

Credicorp Ltd. (NYSE:BAP)’s stock price dropped 4.8% during trading on Monday . The stock traded as low as $299.00 and last traded at $307.0740. Approximately 331,015 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 472,267 shares. The stock had previously closed at $322.50.

Analyst Upgrades and Downgrades

BAP has been the topic of several recent analyst reports. UBS Group increased their target price on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price objective on Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Weiss Ratings lowered Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their price objective for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Credicorp has a consensus rating of “Moderate Buy” and a consensus price target of $356.40.

Credicorp Stock Performance

The firm has a fifty day simple moving average of $332.79 and a 200-day simple moving average of $320.89. The company has a market cap of $33.01 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.69 and a beta of 0.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. Credicorp had a net margin of 24.81% and a return on equity of 20.61%. The company had revenue of $1.81 billion for the quarter. On average, research analysts forecast that Credicorp Ltd. will post 29.61 EPS for the current fiscal year.

Insider Transactions at Credicorp

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently made changes to their positions in BAP. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the third quarter worth about $35,000. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Credicorp during the first quarter worth about $40,000. Kestra Advisory Services LLC purchased a new position in shares of Credicorp during the fourth quarter worth about $42,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

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.