Credicorp (NYSE:BAP) Sets New 1-Year High – Here’s What Happened

Shares of Credicorp Ltd. (NYSE:BAP) hit a new 52-week high during trading on Wednesday . The company traded as high as $399.38 and last traded at $396.96, with a volume of 132820 shares traded. The stock had previously closed at $389.58.

Analyst Upgrades and Downgrades

BAP has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 target price for the company. in a research report on Monday, June 15th. HSBC upgraded shares of Credicorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $375.00 to $480.00 in a report on Wednesday, June 17th. Finally, UBS Group increased their price target on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.00.

Credicorp Stock Performance

The company has a market capitalization of $37.19 billion, a P/E ratio of 15.21, a PEG ratio of 0.84 and a beta of 0.89. The stock’s fifty day moving average price is $343.13 and its 200-day moving average price is $332.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02.

Insider Activity at Credicorp

In other news, CFO Alejandro Perez-Reyes sold 1,073 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the completion of the sale, the chief financial officer directly owned 1,745 shares of the company’s stock, valued at $588,937.50. This trade represents a 38.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Diego Antonio Cavero sold 3,500 shares of Credicorp stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Credicorp

Hedge funds have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Credicorp in the 1st quarter valued at about $40,000. Brown Brothers Harriman & Co. bought a new position in shares of Credicorp during the third quarter worth approximately $35,000. Kestra Advisory Services LLC acquired a new stake in Credicorp during the 4th quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credicorp during the fourth quarter worth $46,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Credicorp in the second quarter valued at about $38,000. 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.