Credicorp (NYSE:BAP) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Credicorp (NYSE:BAP) from a buy rating to a neutral rating in a research note published on Monday, Marketbeat.com reports. The brokerage currently has $208.00 target price on the bank’s stock, down from their prior target price of $209.00.

A number of other equities research analysts have also issued reports on BAP. The Goldman Sachs Group upped their target price on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th.

Credicorp Stock Performance

Shares of BAP opened at $180.76 on Monday. The company has a 50-day moving average of $188.55 and a two-hundred day moving average of $175.99. The stock has a market cap of $14.38 billion, a P/E ratio of 10.37, a PEG ratio of 0.66 and a beta of 1.13. Credicorp has a 12-month low of $144.22 and a 12-month high of $200.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Credicorp in the third quarter valued at $58,000. Headlands Technologies LLC acquired a new position in shares of Credicorp during the 2nd quarter valued at about $84,000. Atlas Capital Advisors LLC lifted its holdings in shares of Credicorp by 14.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock worth $111,000 after acquiring an additional 89 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Credicorp in the second quarter worth approximately $210,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Credicorp in the third quarter worth approximately $216,000. Hedge funds and other 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.