Credicorp Ltd. (NYSE:BAP) Receives $297.60 Average Price Target from Brokerages

Shares of Credicorp Ltd. (NYSE:BAP) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $297.60.

A number of research firms have commented on BAP. Wall Street Zen cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Zacks Research lowered shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th.

Hedge Funds Weigh In On Credicorp

A number of institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc boosted its holdings in Credicorp by 1.6% in the fourth quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock worth $532,000 after acquiring an additional 29 shares in the last quarter. Cigna Investments Inc. New grew its stake in shares of Credicorp by 2.8% during the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock valued at $336,000 after purchasing an additional 32 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after acquiring an additional 32 shares during the last quarter. Perpetual Ltd grew its position in shares of Credicorp by 0.5% during the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock valued at $1,842,000 after acquiring an additional 34 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Credicorp by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after purchasing an additional 42 shares during the period. 89.81% of the stock is owned by institutional investors.

Credicorp Stock Performance

Shares of NYSE BAP opened at $341.17 on Friday. The stock has a 50 day moving average of $334.67 and a 200-day moving average of $288.88. Credicorp has a 12 month low of $165.51 and a 12 month high of $380.20. The company has a market capitalization of $27.14 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.75 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last announced its quarterly earnings results on Tuesday, February 17th. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. As a group, equities research analysts predict 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.