Credicorp (NYSE:BAP) Stock Rating Lowered by JPMorgan Chase & Co.

Credicorp (NYSE:BAP) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday, MarketBeat reports. They presently have a $415.00 price target on the bank’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.42% from the stock’s previous close.

Several other brokerages have also weighed in on BAP. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $320.00 to $350.00 in a report on Tuesday, May 19th. Zacks Research downgraded Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group increased their target price on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, May 29th. Finally, UBS Group increased their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and an average price target of $356.40.

Credicorp Stock Down 0.1%

Shares of Credicorp stock opened at $369.16 on Monday. The business has a 50-day moving average of $334.58 and a 200-day moving average of $323.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $34.84 billion, a PE ratio of 14.23, a P/E/G ratio of 0.80 and a beta of 0.89. Credicorp has a 1-year low of $213.75 and a 1-year high of $380.20.

Credicorp (NYSE:BAP) last announced its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. As a group, equities analysts forecast that Credicorp will post 29.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Credicorp news, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp 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 transaction, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The sale was disclosed in a legal 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 shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at approximately $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently bought and sold shares of BAP. Capital World Investors bought a new stake in shares of Credicorp during the third quarter valued at approximately $434,014,000. Norges Bank acquired a new stake in Credicorp in the 4th quarter valued at approximately $150,814,000. William Blair Investment Management LLC increased its position in Credicorp by 71.6% in the 3rd quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock valued at $218,369,000 after acquiring an additional 342,308 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Credicorp in the 4th quarter valued at approximately $89,754,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Credicorp in the 3rd quarter valued at approximately $78,211,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Company Profile

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.