Credicorp (NYSE:BAP) Sets New 52-Week High on Analyst Upgrade

Key Points

• Credicorp's stock reached a new 12-month high of $270.62 after UBS Group raised its price target from $257.00 to $318.00, maintaining a buy rating.
• Following various analyst reports, the consensus rating for Credicorp is currently Hold, with target prices ranging from $225.00 to $318.00.
• Credicorp recently reported earnings of $6.24 per share, exceeding analyst estimates, while also posting revenue of $1.58 billion for the quarter.

Shares of Credicorp Ltd. (NYSE:BAP - Get Free Report) hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $257.00 to $318.00. UBS Group currently has a buy rating on the stock. Credicorp traded as high as $270.62 and last traded at $269.13, with a volume of 111058 shares trading hands. The stock had previously closed at $265.64.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and upped their target price for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Citigroup upped their target price on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Hsbc Global Res raised shares of Credicorp to a "hold" rating in a report on Friday, September 5th. HSBC lowered shares of Credicorp from a "buy" rating to a "hold" rating and increased their price target for the stock from $225.00 to $255.00 in a report on Friday, September 5th. Finally, Wall Street Zen raised shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Credicorp presently has an average rating of "Hold" and an average target price of $250.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. MAI Capital Management increased its stake in Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank's stock valued at $36,000 after purchasing an additional 159 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Credicorp during the 2nd quarter valued at about $38,000. SVB Wealth LLC bought a new stake in Credicorp during the 1st quarter valued at about $35,000. Cullen Frost Bankers Inc. bought a new stake in Credicorp during the 1st quarter valued at about $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Credicorp by 2,170.0% in the first quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after acquiring an additional 217 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Credicorp Price Performance

The business's 50 day moving average price is $248.48 and its 200 day moving average price is $217.51. The stock has a market capitalization of $20.83 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Sell-side analysts forecast that Credicorp Ltd. will post 21.9 EPS for the current year.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.