Credicorp (NYSE:BAP) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Credicorp shares fell below their 200-day moving average, trading as low as $346.54 and last changing hands at $349.29, below the $359.11 average.
• Analyst sentiment remains positive overall: Credicorp has an average “Moderate Buy” rating and a consensus price target of $431.80, with UBS and JPMorgan recently raising targets and JPMorgan upgrading the stock to “overweight.”
• Institutional investors own 89.81% of Credicorp’s stock, with several funds increasing their positions during the third quarter.

Shares of Credicorp Ltd. (NYSE:BAP - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $359.11 and traded as low as $346.54. Credicorp shares last traded at $349.29, with a volume of 376,913 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on BAP shares. The Goldman Sachs Group raised their price target on Credicorp from $329.00 to $374.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. UBS Group upped their price objective on Credicorp from $412.00 to $473.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. upgraded Credicorp from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $453.00 to $482.00 in a research report on Wednesday, September 16th. Finally, Weiss Ratings upgraded Credicorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $431.80.

Credicorp Stock Down 3.3%

The company has a market capitalization of $32.97 billion, a PE ratio of 12.94, a PEG ratio of 0.70 and a beta of 0.92. The company's 50 day moving average is $378.78 and its two-hundred day moving average is $359.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credicorp in the third quarter valued at $60,000. Aprio Wealth Management LLC raised its stake in Credicorp by 1.9% during the third quarter. Aprio Wealth Management LLC now owns 1,548 shares of the bank's stock valued at $588,000 after purchasing an additional 29 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd lifted its position in Credicorp by 103.1% during the third quarter. Ashoka WhiteOak Capital Pte Ltd now owns 18,830 shares of the bank's stock valued at $7,231,000 after purchasing an additional 9,560 shares during the last quarter. Inspire Investing LLC lifted its position in Credicorp by 9.7% during the third quarter. Inspire Investing LLC now owns 6,399 shares of the bank's stock valued at $2,431,000 after purchasing an additional 567 shares during the last quarter. Finally, Genesee Capital Advisors LLC lifted its position in Credicorp by 4.2% during the third quarter. Genesee Capital Advisors LLC now owns 2,778 shares of the bank's stock valued at $1,055,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

About Credicorp

Credicorp Ltd. NYSE: BAP is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru's largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.

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