Credicorp (NYSE:BAP) Hits New 52-Week High – Still a Buy?

Credicorp Ltd. (NYSE:BAP)’s share price hit a new 52-week high on Friday . The company traded as high as $413.25 and last traded at $402.2710, with a volume of 10923 shares changing hands. The stock had previously closed at $402.27.

Wall Street Analyst Weigh In

Several research firms have issued reports on BAP. The Goldman Sachs Group upped their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings cut Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, May 29th. UBS Group boosted their target price on Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. downgraded 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. Finally, HSBC raised Credicorp from a “hold” rating to a “buy” rating and upped their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $384.33.

Credicorp Stock Up 0.1%

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 stock has a market cap of $38.01 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88. The firm has a 50 day simple moving average of $372.37 and a two-hundred day simple moving average of $348.90.

Insider Transactions at Credicorp

In related news, 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 transaction 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 trade represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction of $362,137.50. Following the transaction, the chief financial officer directly owned 1,745 shares in the company, valued at approximately $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BAP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Credicorp during the 1st quarter worth about $78,000. Cetera Investment Advisers raised its position in Credicorp by 36.3% in the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after buying an additional 476 shares during the last quarter. State Street Corp lifted its position in shares of Credicorp by 1.6% in the second quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock worth $267,673,000 after purchasing an additional 19,361 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Credicorp during the 2nd quarter worth about $355,000. Finally, Quantinno Capital Management LP raised its holdings in Credicorp by 24.7% during the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after acquiring an additional 1,083 shares in the last quarter. 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.