Credicorp (NYSE:BAP) Raised to Hold at Zacks Investment Research

Credicorp (NYSE:BAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

A number of other equities analysts have also recently issued reports on the company. ValuEngine cut Credicorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America raised Credicorp from an “underperform” rating to a “buy” rating in a report on Thursday, September 5th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $245.00 to $250.00 in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $232.00 to $250.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $258.00.

Shares of BAP opened at $207.66 on Monday. Credicorp has a 12-month low of $199.83 and a 12-month high of $252.49. The business has a 50-day simple moving average of $209.64 and a two-hundred day simple moving average of $221.06. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.59. The stock has a market cap of $16.74 billion, a PE ratio of 13.96, a PEG ratio of 1.06 and a beta of 0.70.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, August 8th. The bank reported $3.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.45). Credicorp had a return on equity of 16.48% and a net margin of 24.65%. The firm had revenue of $971.06 million during the quarter, compared to analyst estimates of $1.06 billion. On average, equities research analysts expect that Credicorp will post 16.52 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new stake in shares of Credicorp in the first quarter valued at about $72,000. Huntington National Bank increased its stake in shares of Credicorp by 29.7% in the second quarter. Huntington National Bank now owns 529 shares of the bank’s stock valued at $121,000 after buying an additional 121 shares during the period. Cerebellum GP LLC increased its stake in shares of Credicorp by 146.2% in the third quarter. Cerebellum GP LLC now owns 645 shares of the bank’s stock valued at $134,000 after buying an additional 383 shares during the period. Marshall Wace LLP acquired a new stake in shares of Credicorp in the first quarter valued at about $201,000. Finally, Sepio Capital LLC acquired a new stake in shares of Credicorp in the second quarter valued at about $293,000. 65.64% of the stock is owned by institutional investors.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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