Credicorp (NYSE:BAP) Upgraded by HSBC to “Buy”

HSBC upgraded shares of Credicorp (NYSE:BAP) from a hold rating to a buy rating in a research report released on Tuesday, BenzingaRatingsTable reports. The firm currently has $250.00 target price on the bank’s stock, up from their prior target price of $245.00.

A number of other brokerages also recently commented on BAP. JPMorgan Chase & Co. upgraded Credicorp from a neutral rating to an overweight rating and upped their price objective for the stock from $232.00 to $250.00 in a research note on Tuesday. ValuEngine downgraded Credicorp from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Credicorp from a sell rating to a hold rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Credicorp presently has a consensus rating of Hold and an average target price of $258.00.

Shares of BAP opened at $206.25 on Tuesday. The company has a market cap of $16.05 billion, a P/E ratio of 13.11, a PEG ratio of 0.94 and a beta of 0.70. The stock has a fifty day moving average price of $224.90 and a 200 day moving average price of $231.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 1.13. Credicorp has a 12 month low of $200.34 and a 12 month high of $252.49.



A number of institutional investors and hedge funds have recently modified their holdings of BAP. Invesco Ltd. boosted its position in Credicorp by 1,296.9% during the 2nd quarter. Invesco Ltd. now owns 4,333,938 shares of the bank’s stock worth $992,083,000 after acquiring an additional 4,023,686 shares during the period. BlackRock Inc. boosted its position in Credicorp by 6.8% during the 1st quarter. BlackRock Inc. now owns 3,842,141 shares of the bank’s stock worth $921,923,000 after acquiring an additional 243,191 shares during the period. JPMorgan Chase & Co. boosted its position in Credicorp by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,086,018 shares of the bank’s stock worth $712,871,000 after acquiring an additional 292,335 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Credicorp by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,737,622 shares of the bank’s stock worth $626,669,000 after acquiring an additional 138,936 shares during the period. Finally, Baillie Gifford & Co. boosted its position in Credicorp by 1.3% during the 2nd quarter. Baillie Gifford & Co. now owns 2,056,946 shares of the bank’s stock worth $470,855,000 after acquiring an additional 26,760 shares during the period. Hedge funds and other institutional investors own 67.53% of the company’s stock.

About Credicorp

Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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Analyst Recommendations for Credicorp (NYSE:BAP)

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