Credicorp (NYSE:BAP) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Credicorp (NYSE:BAP) from a hold rating to a sell rating in a research note issued to investors on Tuesday, 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 “

Other equities analysts also recently issued reports about the stock. Bank of America upgraded shares of Credicorp from an underperform rating to a buy rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded 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 report on Tuesday, August 13th. ValuEngine upgraded shares of Credicorp from a sell rating to a hold rating in a report on Wednesday, October 30th. Finally, HSBC upgraded shares of Credicorp from a hold rating to a buy rating and boosted their target price for the stock from $245.00 to $250.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $254.00.

BAP traded up $6.67 during trading on Tuesday, reaching $210.61. 208,590 shares of the stock were exchanged, compared to its average volume of 254,125. The stock has a market cap of $16.32 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.04 and a beta of 0.70. Credicorp has a twelve month low of $199.83 and a twelve month high of $252.49. The stock’s 50 day moving average price is $209.77 and its two-hundred day moving average price is $218.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.12.

Credicorp (NYSE:BAP) last issued its earnings results on Thursday, November 7th. The bank reported $4.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.25 by ($0.16). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. Credicorp had a return on equity of 16.30% and a net margin of 24.52%. Equities research analysts predict that Credicorp will post 16.46 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Wednesday, October 23rd will be given a dividend of $8.00 per share. The ex-dividend date is Monday, October 21st. Credicorp’s dividend payout ratio (DPR) is 40.79%.

In other Credicorp news, insider Abotomey Darryl sold 105,790 shares of Credicorp stock in a transaction on Monday, November 11th. The shares were sold at an average price of $7.21, for a total transaction of $762,745.90. Insiders own 15.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BAP. Parallel Advisors LLC boosted its position in Credicorp by 19.9% during the third quarter. Parallel Advisors LLC now owns 343 shares of the bank’s stock worth $71,000 after purchasing an additional 57 shares during the period. Marshall Wace North America L.P. bought a new position in Credicorp during the first quarter worth $72,000. Bartlett & Co. LLC boosted its position in Credicorp by 16.7% during the third quarter. Bartlett & Co. LLC now owns 350 shares of the bank’s stock worth $73,000 after purchasing an additional 50 shares during the period. Huntington National Bank boosted its position in Credicorp by 29.7% during the second quarter. Huntington National Bank now owns 529 shares of the bank’s stock worth $121,000 after purchasing an additional 121 shares during the period. Finally, Cerebellum GP LLC boosted its position in Credicorp by 146.2% during the third quarter. Cerebellum GP LLC now owns 645 shares of the bank’s stock worth $134,000 after purchasing an additional 383 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

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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