Credicorp (NYSE:BAP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Credicorp (NYSE:BAP) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

A number of other equities analysts also recently weighed in on BAP. JPMorgan Chase & Co. raised shares of Credicorp from a neutral rating to an overweight rating and boosted their target price for the stock from $232.00 to $250.00 in a research note on Tuesday, August 13th. ValuEngine cut shares of Credicorp from a hold rating to a sell rating in a research report on Thursday, August 1st. Bank of America upgraded shares of Credicorp from an underperform rating to a buy rating in a research report on Thursday, September 5th. Finally, HSBC upgraded shares of Credicorp from a hold rating to a buy rating and lifted their price target for the stock from $245.00 to $250.00 in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $258.00.



Shares of NYSE BAP opened at $214.41 on Monday. Credicorp has a 1-year low of $199.83 and a 1-year high of $252.49. The company has a market cap of $16.89 billion, a PE ratio of 14.41, a P/E/G ratio of 1.07 and a beta of 0.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $210.72 and a two-hundred day moving average of $227.55.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, August 8th. The bank reported $3.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.14 by ($0.45). Credicorp had a return on equity of 16.48% and a net margin of 24.65%. The company had revenue of $971.06 million during the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities research analysts forecast that Credicorp will post 16.52 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new stake in shares of Credicorp during the 1st quarter worth approximately $72,000. Parallel Advisors LLC grew its position in shares of Credicorp by 24.2% during the 1st quarter. Parallel Advisors LLC now owns 328 shares of the bank’s stock worth $79,000 after buying an additional 64 shares during the period. Huntington National Bank grew its position in shares of Credicorp by 29.7% during the 2nd quarter. Huntington National Bank now owns 529 shares of the bank’s stock worth $121,000 after buying an additional 121 shares during the period. Marshall Wace LLP acquired a new stake in shares of Credicorp during the 1st quarter worth approximately $201,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Credicorp during the 1st quarter worth approximately $207,000. Institutional investors own 68.70% 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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