Credicorp Ltd. (NYSE:BAP) Receives Consensus Rating of “Moderate Buy” from Analysts

Credicorp Ltd. (NYSE:BAP) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $384.3333.

BAP has been the subject of several recent analyst reports. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $320.00 to $350.00 in a report on Tuesday, May 19th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Morgan Stanley upgraded shares of Credicorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $375.00 to $480.00 in a research report on Wednesday, June 17th. UBS Group raised their price objective on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the transaction, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their position. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Credicorp

A number of institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new position in Credicorp during the 2nd quarter valued at about $3,464,000. Wasatch Advisors LP increased its holdings in shares of Credicorp by 65.9% in the 2nd quarter. Wasatch Advisors LP now owns 8,896 shares of the bank’s stock valued at $3,466,000 after purchasing an additional 3,535 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in shares of Credicorp by 4.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,369 shares of the bank’s stock worth $1,702,000 after purchasing an additional 187 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Credicorp by 36.4% in the second quarter. Assenagon Asset Management S.A. now owns 2,282 shares of the bank’s stock worth $889,000 after purchasing an additional 609 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of Credicorp by 6.9% during the second quarter. Confluence Investment Management LLC now owns 946 shares of the bank’s stock worth $369,000 after purchasing an additional 61 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Price Performance

NYSE BAP opened at $394.86 on Thursday. The stock’s 50-day moving average price is $376.68 and its two-hundred day moving average price is $351.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market cap of $37.27 billion, a PE ratio of 15.22, a PEG ratio of 0.85 and a beta of 0.90. Credicorp has a 1 year low of $230.45 and a 1 year high of $413.24.

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.