Credicorp (NYSE:BAP) Sets New 52-Week High – Here’s What Happened

Credicorp Ltd. (NYSE:BAP) reached a new 52-week high during trading on Friday . The stock traded as high as $285.99 and last traded at $286.1090, with a volume of 29777 shares. The stock had previously closed at $281.00.

Analysts Set New Price Targets

BAP has been the subject of several recent research reports. UBS Group upped their price target on Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. HSBC downgraded shares of Credicorp from a “buy” rating to a “hold” rating and upped their price objective for the company from $225.00 to $255.00 in a report on Friday, September 5th. Hsbc Global Res upgraded Credicorp to a “hold” rating in a research report on Friday, September 5th. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $276.60.

Credicorp Stock Up 0.7%

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $260.85 and a 200-day simple moving average of $248.35. The firm has a market cap of $22.50 billion, a PE ratio of 12.74, a PEG ratio of 0.70 and a beta of 0.90.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.05 by $0.12. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.71 billion. Sell-side analysts predict that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Credicorp

Institutional investors have recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in Credicorp in the 1st quarter worth approximately $35,000. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp in the third quarter worth $35,000. MAI Capital Management raised its stake in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank’s stock worth $36,000 after purchasing an additional 159 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Credicorp during the second quarter valued at $38,000. Finally, Spire Wealth Management purchased a new stake in shares of Credicorp during the third quarter valued at $42,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Credicorp

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.