Credicorp (NYSE:BAP) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Credicorp Ltd. (NYSE:BAP)’s stock price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $359.11 and traded as low as $346.54. Credicorp shares last traded at $349.29, with a volume of 376,913 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BAP. UBS Group boosted their price objective on Credicorp from $412.00 to $473.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. The Goldman Sachs Group raised their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded Credicorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. Finally, Weiss Ratings raised Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $431.80.

Credicorp Trading Down 3.3%

The firm has a market cap of $32.97 billion, a PE ratio of 12.94, a P/E/G ratio of 0.70 and a beta of 0.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average price is $378.78 and its two-hundred day moving average price is $359.11.

Institutional Trading of Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Credicorp in the second quarter worth about $1,933,666,000. Pzena Investment Management LLC bought a new position in shares of Credicorp during the second quarter valued at approximately $325,911,000. Bank of Nova Scotia bought a new position in shares of Credicorp during the second quarter valued at approximately $311,294,000. Bank of America Corp DE bought a new position in shares of Credicorp during the second quarter valued at approximately $264,501,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Credicorp in the second quarter worth approximately $243,544,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.