Credicorp (NYSE:BAP) Reaches New 1-Year High - Should You Buy?

Key Points

• Credicorp Ltd. shares reached a new 52-week high, trading at $257.27, reflecting strong market performance and investor interest.
• Analysts have issued positive ratings for the stock, with Citigroup raising its price target to $275 and Goldman Sachs upgrading it from "sell" to "neutral".
• The bank reported a strong earnings performance, with EPS of $6.24 for the last quarter, exceeding analyst expectations by $0.51.

Credicorp Ltd. (NYSE:BAP - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $257.27 and last traded at $255.84, with a volume of 3112 shares changing hands. The stock had previously closed at $256.09.

Analyst Upgrades and Downgrades

BAP has been the topic of several recent research reports. Citigroup raised their price objective on Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised Credicorp from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group reissued a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Finally, The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and raised their price objective for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $236.80.

Credicorp Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.08 and a current ratio of 1.08. The business has a fifty day simple moving average of $236.15 and a 200 day simple moving average of $209.49.

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 analysts' consensus estimates of $5.73 by $0.51. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. Analysts expect that Credicorp Ltd. will post 21.9 EPS for the current year.

Institutional Trading of Credicorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new position in shares of Credicorp in the first quarter valued at approximately $35,000. MAI Capital Management grew its holdings in Credicorp by 5,300.0% during the second quarter. MAI Capital Management now owns 162 shares of the bank's stock valued at $36,000 after purchasing an additional 159 shares during the period. Raymond James Financial Inc. bought a new position in Credicorp during the second quarter valued at $38,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Credicorp during the fourth quarter valued at $40,000. Finally, Cullen Frost Bankers Inc. bought a new position in Credicorp during the first quarter valued at $40,000. 89.81% of the stock is owned by institutional investors.

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.