Shares of Credicorp Ltd. (NYSE:BAP – Get Free Report) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $384.3333.
A number of analysts have commented on the company. The Goldman Sachs Group raised their price objective on Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $375.00 to $480.00 in a research note on Wednesday, June 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. UBS Group boosted their price target on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. downgraded shares of Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective for the company. in a report on Monday, June 15th.
Read Our Latest Stock Report on BAP
Credicorp Stock Up 1.1%
Insider Transactions at Credicorp
In related news, CEO Diego Antonio Cavero sold 3,500 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $319.00, for a total value of $1,116,500.00. Following the completion of the transaction, the chief executive officer owned 7,307 shares of the company’s stock, valued at $2,330,933. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alejandro Perez-Reyes sold 1,073 shares of Credicorp stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer directly owned 1,745 shares in the company, valued at $588,937.50. The trade was a 38.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 15.90% of the company’s stock.
Institutional Trading of Credicorp
A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Credicorp during the first quarter valued at $78,000. Cetera Investment Advisers lifted its holdings in Credicorp by 36.3% during the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after purchasing an additional 476 shares during the last quarter. State Street Corp lifted its holdings in Credicorp by 1.6% during the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after purchasing an additional 19,361 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Credicorp in the second quarter valued at about $355,000. Finally, Quantinno Capital Management LP boosted its position in Credicorp by 24.7% in the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock valued at $1,222,000 after buying an additional 1,083 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.
About Credicorp
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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