Credicorp (NYSE:BAP) Lowered 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 report published on Wednesday 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 “

Several other research firms have also recently commented on BAP. ValuEngine upgraded Credicorp from a sell rating to a hold rating in a research report on Wednesday, October 30th. Bank of America lowered Credicorp from a buy rating to a neutral rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Credicorp from $250.00 to $238.00 and set an overweight rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $241.00.

Shares of Credicorp stock traded up $0.93 during trading on Wednesday, reaching $214.51. The company’s stock had a trading volume of 141,299 shares, compared to its average volume of 174,854. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.65. Credicorp has a 12-month low of $199.83 and a 12-month high of $252.49. The company has a market capitalization of $16.83 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.67. The business has a 50 day moving average price of $211.57 and a 200-day moving average price of $213.62.

Credicorp (NYSE:BAP) last posted its quarterly 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). Credicorp had a net margin of 24.52% and a return on equity of 16.30%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Research analysts predict that Credicorp will post 16.37 EPS for the current fiscal year.

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

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Credicorp by 5.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,737,622 shares of the bank’s stock worth $626,669,000 after buying an additional 138,936 shares in the last quarter. Generation Investment Management LLP increased its position in Credicorp by 7.0% during the third quarter. Generation Investment Management LLP now owns 1,359,317 shares of the bank’s stock valued at $283,336,000 after acquiring an additional 88,972 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Credicorp by 11.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,119,263 shares of the bank’s stock valued at $233,300,000 after acquiring an additional 111,974 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Credicorp by 9.2% during the second quarter. Royal Bank of Canada now owns 952,410 shares of the bank’s stock valued at $218,016,000 after purchasing an additional 80,011 shares during the period. Finally, Genesis Investment Management LLP purchased a new stake in shares of Credicorp during the third quarter valued at $184,519,000. 66.18% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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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