Credicorp (NYSE:BAP) Stock Breaks Below 200 Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Credicorp Ltd. (NYSE:BAP – Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $359.11 and traded as low as $346.54. Credicorp shares last traded at $349.29, with a volume of 376,913 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on BAP shares. Weiss Ratings upgraded Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $453.00 to $482.00 in a research report on Wednesday, September 16th. The Goldman Sachs Group lifted their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, UBS Group boosted their price objective on Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Credicorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.80.

View Our Latest Analysis on BAP

Credicorp Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average price is $378.78 and its 200-day moving average price is $359.11. The company has a market cap of $32.97 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.68 and a beta of 0.92.

Institutional Trading of Credicorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credicorp in the 3rd quarter valued at approximately $60,000. Aprio Wealth Management LLC increased its holdings in Credicorp by 1.9% during the third quarter. Aprio Wealth Management LLC now owns 1,548 shares of the bank’s stock worth $588,000 after buying an additional 29 shares during the last quarter. Ashoka WhiteOak Capital Pte Ltd increased its holdings in Credicorp by 103.1% during the third quarter. Ashoka WhiteOak Capital Pte Ltd now owns 18,830 shares of the bank’s stock worth $7,231,000 after buying an additional 9,560 shares during the last quarter. Inspire Investing LLC raised its position in Credicorp by 9.7% during the third quarter. Inspire Investing LLC now owns 6,399 shares of the bank’s stock worth $2,431,000 after acquiring an additional 567 shares in the last quarter. Finally, Genesee Capital Advisors LLC lifted its stake in Credicorp by 4.2% in the third quarter. Genesee Capital Advisors LLC now owns 2,778 shares of the bank’s stock valued at $1,055,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Credicorp

(Get Free Report)

Credicorp Ltd. (NYSE: BAP) is a Peru-based financial services holding company whose businesses provide banking, insurance, investment management and pension services. Its principal subsidiary is Banco de Crédito del Perú (BCP), one of Peru’s largest banks, which serves individual, business and corporate customers through deposits, lending, payments, treasury and other financial products.

Credicorp also operates Mibanco, a financial institution focused on microfinance and small businesses, and Pacífico Seguros, which offers life, health, property and casualty insurance.

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