Credicorp (NYSE:BAP) Hits New 1-Year High - Here's Why

Key Points

• Credicorp's stock reached a new 52-week high of $268.48 during trading, closing at $264.09 with over 255,000 shares traded.
• Analysts show varied opinions on the stock; some upgraded it to a "buy" rating while others downgraded it, with a consensus target price of $239.83.
• Credicorp reported earnings of $6.24 per share, exceeding expectations, and had a solid revenue of $1.58 billion for the last quarter.

Credicorp Ltd. (NYSE:BAP - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $268.48 and last traded at $264.09, with a volume of 255834 shares traded. The stock had previously closed at $263.50.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAP. UBS Group restated a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Citigroup boosted their price target on shares of Credicorp from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Hsbc Global Res raised shares of Credicorp to a "hold" rating in a research note on Friday, September 5th. HSBC downgraded shares of Credicorp from a "buy" rating to a "hold" rating and boosted their target price for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Finally, The Goldman Sachs Group raised shares of Credicorp from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Credicorp has an average rating of "Hold" and a consensus price target of $239.83.

Credicorp Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $21.18 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.74 and a beta of 1.12. The stock's 50 day moving average is $244.12 and its two-hundred day moving average is $214.80.

Credicorp (NYSE:BAP - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a net margin of 23.11% and a return on equity of 18.05%. As a group, equities analysts anticipate that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credicorp

Several large investors have recently bought and sold shares of BAP. SVB Wealth LLC bought a new stake in Credicorp in the first quarter valued at approximately $35,000. MAI Capital Management boosted its holdings in shares of Credicorp by 5,300.0% in the second quarter. MAI Capital Management now owns 162 shares of the bank's stock valued at $36,000 after buying an additional 159 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Credicorp in the second quarter valued at approximately $38,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Credicorp in the fourth quarter valued at approximately $40,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Credicorp in the first quarter valued at approximately $40,000. 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.