Credicorp Ltd. (NYSE:BAP) Stock Has Consensus Price Target of $431.80

Key Points

• Credicorp has a “Moderate Buy” consensus rating from seven analysts, with five buys and two holds. The average 12-month price target is $431.80.
• Several firms recently became more bullish, including JPMorgan, UBS, and Morgan Stanley, which raised their ratings or price targets; targets now range as high as $482.
• Shares opened at $382.08, down 0.9%, while institutional investors own a substantial 89.81% of the company’s stock.

Credicorp Ltd. (NYSE:BAP - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $431.80.

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Credicorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. raised shares of Credicorp from a "neutral" rating to an "overweight" rating and upped their target price for the company from $453.00 to $482.00 in a report on Wednesday, September 16th. UBS Group raised their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Morgan Stanley raised Credicorp from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group upped 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.

Credicorp Trading Down 0.9%

NYSE BAP opened at $382.08 on Friday. The company has a market cap of $36.06 billion, a PE ratio of 14.16, a PEG ratio of 0.76 and a beta of 0.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Credicorp has a 12 month low of $230.45 and a 12 month high of $413.24. The stock has a 50 day moving average of $382.77 and a 200-day moving average of $359.57.

Institutional Investors Weigh In On Credicorp

A number of large investors have recently added to or reduced their stakes in BAP. USS Investment Management Ltd grew its position in shares of Credicorp by 15.1% in the fourth quarter. USS Investment Management Ltd now owns 110,344 shares of the bank's stock valued at $31,684,000 after purchasing an additional 14,470 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Credicorp during the 1st quarter worth approximately $1,800,000. Ashoka WhiteOak Capital Pte Ltd acquired a new stake in Credicorp during the 2nd quarter worth approximately $3,611,000. Trillium Asset Management LLC bought a new stake in Credicorp in the 2nd quarter valued at $6,065,000. Finally, California State Teachers Retirement System grew its holdings in Credicorp by 69.7% in the 1st quarter. California State Teachers Retirement System now owns 10,310 shares of the bank's stock valued at $3,497,000 after buying an additional 4,233 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

About Credicorp

Credicorp Ltd. NYSE: BAP is a financial services holding company based in Peru. Through its subsidiaries, the company provides banking, insurance, pension, investment banking and wealth management services to individuals, businesses and institutions.

Its principal banking subsidiary is Banco de Crédito del Perú (BCP), one of Peru's major banks, which offers deposits, loans, payment services, credit cards and other financial products. Credicorp also operates Mibanco, a bank focused on microfinance and small businesses, and Grupo Pacífico, which provides property and casualty, life and health insurance products.

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