Credicorp (NYSE:BAP) Reaches New 12-Month High – Still a Buy?

Credicorp Ltd. (NYSE:BAP)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $307.39 and last traded at $306.9150, with a volume of 24363 shares changing hands. The stock had previously closed at $302.15.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BAP shares. UBS Group lifted 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. Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research raised shares of Credicorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. The Goldman Sachs Group upped their price objective on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $290.20.

Credicorp Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $25.24 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.71 and a beta of 0.89. The firm’s 50-day moving average is $275.14 and its two-hundred day moving average is $258.79.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.59% and a return on equity of 19.50%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. As a group, research analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Hedge Funds Weigh In On Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Credicorp during the first quarter worth approximately $78,000. Voya Investment Management LLC increased its position in Credicorp by 2.4% during the first quarter. Voya Investment Management LLC now owns 5,088 shares of the bank’s stock worth $947,000 after acquiring an additional 120 shares during the period. Diversified Trust Co raised its stake in Credicorp by 166.6% during the 2nd quarter. Diversified Trust Co now owns 7,669 shares of the bank’s stock valued at $1,714,000 after purchasing an additional 4,792 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Credicorp by 193.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 665 shares of the bank’s stock valued at $149,000 after purchasing an additional 438 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in Credicorp in the 2nd quarter valued at $233,000. Institutional investors and hedge funds 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.