Credicorp (NYSE:BAP) Price Target Raised to $330.00

by · The Markets Daily

Credicorp (NYSE:BAP – Get Free Report) had its price objective increased by equities researchers at The Goldman Sachs Group from $293.00 to $330.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 1.21% from the stock’s current price.

A number of other equities research analysts also recently weighed in on BAP. Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. One equities research 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 data from MarketBeat, Credicorp presently has a consensus rating of “Moderate Buy” and an average target price of $297.60.

Check Out Our Latest Research Report on BAP

Credicorp Stock Up 1.3%

Shares of NYSE BAP traded up $4.24 during trading on Tuesday, hitting $334.05. The stock had a trading volume of 443,423 shares, compared to its average volume of 554,773. The firm has a fifty day moving average of $315.66 and a two-hundred day moving average of $278.13. The company has a market capitalization of $26.57 billion, a PE ratio of 13.74, a PEG ratio of 0.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. Credicorp has a 12 month low of $165.51 and a 12 month high of $380.20.

Credicorp (NYSE:BAP – Get Free Report) last released its earnings results on Thursday, February 12th. The bank reported $5.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.73). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.77 billion. Credicorp had a net margin of 24.53% and a return on equity of 21.54%. As a group, equities research analysts forecast that Credicorp will post 21.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Credicorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. bought a new stake in shares of Credicorp during the 3rd quarter valued at $35,000. Kestra Advisory Services LLC bought a new stake in Credicorp during the fourth quarter valued at about $42,000. Spire Wealth Management purchased a new stake in Credicorp in the third quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credicorp in the fourth quarter worth about $46,000. Finally, MAI Capital Management lifted its position in shares of Credicorp by 5,300.0% during the 2nd quarter. MAI Capital Management now owns 162 shares of the bank’s stock valued at $36,000 after buying an additional 159 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Credicorp

(Get Free Report)

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.

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