Credicorp Ltd. (NYSE:BAP – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $319.89, but opened at $341.70. Credicorp shares last traded at $360.3080, with a volume of 166,006 shares traded.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on BAP. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $320.00 to $350.00 in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Credicorp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, May 29th. UBS Group lifted their price objective on shares of Credicorp from $408.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Credicorp from $412.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Credicorp currently has an average rating of “Moderate Buy” and an average target price of $356.40.
Check Out Our Latest Research Report on BAP
Credicorp Stock Up 0.8%
Credicorp (NYSE:BAP – Get Free Report) last issued its earnings results on Sunday, February 1st. The bank reported $5.91 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%. As a group, analysts anticipate that Credicorp Ltd. will post 29.61 EPS for the current year.
Insider Buying and Selling
In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $337.50, for a total value of $362,137.50. Following the sale, the chief financial officer owned 1,745 shares in the company, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Diego Antonio Cavero sold 3,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 7,307 shares in the company, valued at approximately $2,330,933. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Credicorp during the first quarter valued at approximately $40,000. Brown Brothers Harriman & Co. purchased a new position in Credicorp during the third quarter worth approximately $35,000. Kestra Advisory Services LLC purchased a new position in Credicorp during the fourth quarter worth approximately $42,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credicorp during the 4th quarter worth approximately $46,000. Finally, Raymond James Financial Inc. purchased a new stake in Credicorp during the 2nd quarter worth approximately $38,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
Credicorp Company Profile
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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