Brokerages Set Credicorp Ltd. (NYSE:BAP) Price Target at $290.20

Shares of Credicorp Ltd. (NYSE:BAP) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $297.60.

Several equities analysts have recently issued reports on the company. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday.

Institutional Investors Weigh In On Credicorp

Several hedge funds have recently modified their holdings of BAP. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the third quarter worth approximately $35,000. MAI Capital Management lifted its position in shares of Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Credicorp in the 2nd quarter valued at $38,000. Spire Wealth Management purchased a new stake in Credicorp in the 3rd quarter worth $42,000. Finally, Kestra Advisory Services LLC acquired a new position in Credicorp during the fourth quarter worth $42,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Credicorp Stock Up 1.4%

NYSE:BAP opened at $334.53 on Wednesday. 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 company’s fifty day moving average price is $316.83 and its 200-day moving average price is $278.82. Credicorp has a 1-year low of $165.51 and a 1-year high of $380.20. The firm has a market capitalization of $26.61 billion, a P/E ratio of 13.76, a PEG ratio of 0.73 and a beta of 0.87.

Credicorp (NYSE:BAP) last posted its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.73). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. As a group, equities research analysts anticipate that Credicorp will post 21.9 EPS for the current year.

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.