Credicorp Ltd. (NYSE:BAP) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Credicorp has a consensus analyst rating of “Moderate Buy” from eight covering firms, with five buy ratings and three hold ratings. The average 12-month price target is $377.
• Recent analyst moves were mixed: JPMorgan downgraded the stock to neutral, while UBS, Morgan Stanley, and HSBC all maintained or upgraded bullish views and raised price targets.
• Credicorp shares were trading up 2.3% to about $401.11, near their 52-week high, as the company showed a market cap of $37.86 billion and relatively low leverage.

Shares of Credicorp Ltd. (NYSE:BAP - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $377.00.

BAP has been the topic of several analyst reports. JPMorgan Chase & Co. cut Credicorp from an "overweight" rating to a "neutral" rating and set a $415.00 target price on the stock. in a research report on Monday, June 15th. UBS Group increased their price target on Credicorp from $408.00 to $412.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Morgan Stanley upgraded Credicorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. Weiss Ratings downgraded shares of Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, May 29th. Finally, HSBC upgraded shares of Credicorp from a "hold" rating to a "buy" rating and upped their target price for the stock from $320.00 to $350.00 in a research note on Tuesday, May 19th.

Insiders Place Their Bets

In other news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This 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 hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction dated 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 sale, the chief financial officer directly owned 1,745 shares of the company's stock, valued at approximately $588,937.50. This trade represents a 38.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Credicorp

Institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new position in Credicorp in the 3rd quarter worth about $35,000. Raymond James Financial Inc. purchased a new position in shares of Credicorp in the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Credicorp in the first quarter valued at approximately $40,000. Kestra Advisory Services LLC bought a new stake in Credicorp during the 4th quarter valued at $42,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Credicorp Stock Up 2.3%

Shares of NYSE BAP traded up $9.19 during midday trading on Friday, hitting $401.11. 205,209 shares of the stock traded hands, compared to its average volume of 361,199. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.02. Credicorp has a one year low of $216.87 and a one year high of $402.19. The business has a 50 day moving average price of $353.41 and a two-hundred day moving average price of $338.76. The company has a market cap of $37.86 billion, a PE ratio of 15.46, a P/E/G ratio of 0.87 and a beta of 0.88.

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.

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