Credicorp (NYSE:BAP) Given New $310.00 Price Target at JPMorgan Chase & Co.

Credicorp (NYSE:BAP) had its target price upped by JPMorgan Chase & Co. from $242.00 to $310.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other research analysts have also commented on BAP. Hsbc Global Res raised Credicorp to a “hold” rating in a research report on Friday, September 5th. UBS Group boosted their target price on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. HSBC lowered Credicorp from a “buy” rating to a “hold” rating and raised their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Citigroup upped their price objective on shares of Credicorp from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.17.

Credicorp Trading Down 0.2%

BAP traded down $0.54 during trading on Friday, hitting $247.77. 453,337 shares of the stock traded hands, compared to its average volume of 314,344. The firm has a market capitalization of $19.71 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. Credicorp has a 12-month low of $165.51 and a 12-month high of $280.88. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50-day moving average of $259.54 and a 200 day moving average of $239.89.

Credicorp (NYSE:BAP) last released its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.05 by $0.12. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. Equities research analysts anticipate that Credicorp will post 21.9 EPS for the current year.

Institutional Investors Weigh In On Credicorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in shares of Credicorp by 7.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,038,098 shares of the bank’s stock worth $808,985,000 after purchasing an additional 223,497 shares in the last quarter. Royal Bank of Canada boosted its holdings in Credicorp by 0.9% in the first quarter. Royal Bank of Canada now owns 1,695,980 shares of the bank’s stock worth $315,724,000 after acquiring an additional 14,852 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Credicorp by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 1,650,293 shares of the bank’s stock worth $368,873,000 after acquiring an additional 67,249 shares during the last quarter. Capital World Investors bought a new position in shares of Credicorp during the third quarter valued at $434,014,000. Finally, Invesco Ltd. raised its position in shares of Credicorp by 27.4% in the 3rd quarter. Invesco Ltd. now owns 1,349,408 shares of the bank’s stock worth $359,320,000 after purchasing an additional 290,585 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

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.