Credicorp (NYSE:BAP) Given New $318.00 Price Target at UBS Group

Key Points

• UBS Group has increased the target price for Credicorp's stock from $257.00 to $318.00, indicating a potential upside of 19.62% from its current price.
• Several analysts have issued upgrades for the stock, with three analysts rating it as a "buy" and four giving it a "hold" rating, resulting in a consensus rating of "hold" and an average target price of $250.00.
• Credicorp reported strong quarterly earnings, with an EPS of $6.24, beating estimates of $5.73 and achieving revenues of $1.58 billion, surpassing the expected $1.52 billion.

Credicorp (NYSE:BAP - Free Report) had its price target upped by UBS Group from $257.00 to $318.00 in a research note published on Tuesday, MarketBeat reports. They currently have a buy rating on the bank's stock.

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

Credicorp Trading Down 0.0%

Shares of Credicorp stock traded down $0.08 during midday trading on Tuesday, reaching $261.83. The company had a trading volume of 512,575 shares, compared to its average volume of 347,015. The stock has a fifty day moving average price of $248.48 and a 200 day moving average price of $217.51. 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 cap of $20.83 billion, a PE ratio of 12.41, a P/E/G ratio of 0.71 and a beta of 1.12. Credicorp has a fifty-two week low of $165.51 and a fifty-two week high of $280.88.

Credicorp (NYSE:BAP - Get Free Report) last posted 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. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts anticipate that Credicorp will post 21.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MAI Capital Management grew its stake in shares of Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank's stock worth $36,000 after acquiring an additional 159 shares during the period. Raymond James Financial Inc. purchased a new stake in Credicorp during the 2nd quarter worth about $38,000. SVB Wealth LLC purchased a new stake in Credicorp during the 1st quarter worth about $35,000. Cullen Frost Bankers Inc. purchased a new stake in Credicorp during the 1st quarter worth about $40,000. Finally, Farther Finance Advisors LLC lifted its holdings in Credicorp by 2,170.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the bank's stock worth $44,000 after purchasing an additional 217 shares in 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.