Credicorp (NYSE:BAP) Reaches New 1-Year High - What's Next?

Key Points

• Credicorp Ltd. shares recently reached a new 52-week high of $263.42, closing at $261.70 with a trading volume of 446,328 shares.
• Analysts have upgraded their ratings for Credicorp, with some setting a new price target as high as $275.00, reflecting a consensus rating of "Moderate Buy" and an average target of $236.80.
• In its latest quarterly earnings report, Credicorp exceeded expectations by reporting an EPS of $6.24, surpassing the consensus estimate of $5.73.

Credicorp Ltd. (NYSE:BAP - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $263.42 and last traded at $261.70, with a volume of 446328 shares. The stock had previously closed at $260.11.

Analysts Set New Price Targets

Several analysts have recently commented on BAP shares. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $174.00 to $225.00 in a report on Thursday, July 24th. Citigroup upped their price objective on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $236.80.

Credicorp Stock Performance

The company has a market cap of $20.81 billion, a PE ratio of 14.23, a P/E/G ratio of 0.71 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $238.70 and a 200-day moving average of $210.69.

Credicorp (NYSE:BAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 EPS for the quarter, topping the consensus estimate of $5.73 by $0.51. Credicorp had a net margin of 20.94% and a return on equity of 16.25%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Equities research analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credicorp

Several institutional investors and hedge funds have recently made changes to their positions in BAP. Orion Porfolio Solutions LLC grew its position in Credicorp by 1.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,244 shares of the bank's stock worth $1,619,000 after purchasing an additional 98 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Credicorp during the second quarter worth $965,000. Captrust Financial Advisors boosted its position in shares of Credicorp by 2.6% during the second quarter. Captrust Financial Advisors now owns 4,756 shares of the bank's stock worth $1,063,000 after acquiring an additional 120 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Credicorp by 37.1% in the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank's stock worth $55,000 after purchasing an additional 66 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in Credicorp by 1.5% in the second quarter. Royal London Asset Management Ltd. now owns 104,603 shares of the bank's stock worth $23,381,000 after purchasing an additional 1,528 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

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.

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