Analysts Set Credicorp Ltd. (NYSE:BAP) Price Target at $276.60

Credicorp Ltd. (NYSE:BAP) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $276.60.

BAP has been the topic of a number of recent research reports. UBS Group increased their target price on Credicorp from $257.00 to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. HSBC downgraded shares of Credicorp from a “buy” rating to a “hold” rating and increased their price objective for the company from $225.00 to $255.00 in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a report on Monday, December 22nd. JPMorgan Chase & Co. increased their price target on shares of Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Finally, Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SVB Wealth LLC bought a new stake in Credicorp in the 1st quarter worth about $35,000. Brown Brothers Harriman & Co. bought a new stake in shares of Credicorp in the third quarter worth approximately $35,000. MAI Capital Management grew 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 acquiring an additional 159 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Credicorp during the second quarter valued at approximately $38,000. Finally, Spire Wealth Management bought a new position in Credicorp during the third quarter valued at approximately $42,000. 89.81% of the stock is owned by institutional investors.

Credicorp Price Performance

Shares of BAP opened at $291.37 on Tuesday. The firm’s 50-day simple moving average is $264.96 and its two-hundred day simple moving average is $251.67. Credicorp has a fifty-two week low of $165.51 and a fifty-two week high of $292.00. The stock has a market cap of $23.17 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.71 billion. Analysts anticipate that Credicorp will post 21.9 earnings per share for the current fiscal year.

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.