Credicorp Ltd. (BAP) Trading Down 2.3%
Credicorp Ltd. (NYSE:BAP) shares fell 2.3% during trading on Friday . The company traded as low as $158.73 and last traded at $158.80, with a volume of 194,574 shares trading hands. The stock had previously closed at $162.51.
A number of brokerages have recently commented on BAP. Zacks Investment Research raised shares of Credicorp from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating and issued a $154.00 price objective on shares of Credicorp in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $166.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $165.25.
The company’s market capitalization is $12.65 billion. The company has a 50 day moving average of $157.01 and a 200 day moving average of $137.70.
An institutional investor recently raised its position in Credicorp stock. State of New Jersey Common Pension Fund D increased its position in shares of Credicorp Ltd. (NYSE:BAP) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,597 shares of the company’s stock after buying an additional 8,767 shares during the period. State of New Jersey Common Pension Fund D owned about 0.19% of Credicorp worth $14,461,000 at the end of the most recent quarter.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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