JPMorgan Chase & Co. Issues Positive Forecast for Credicorp (NYSE:BAP) Stock Price

Credicorp (NYSE:BAP) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $242.00 to $310.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.22% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded Credicorp from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $174.00 to $225.00 in a research note on Thursday, July 24th. Hsbc Global Res raised shares of Credicorp to a “hold” rating in a research report on Friday, September 5th. Zacks Research raised Credicorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Wall Street Zen upgraded shares of Credicorp from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, HSBC cut Credicorp from a “buy” rating to a “hold” rating and increased their price objective for the stock from $225.00 to $255.00 in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.17.

Credicorp Stock Down 0.3%

BAP stock traded down $0.76 during midday trading on Friday, hitting $247.56. The company’s stock had a trading volume of 77,507 shares, compared to its average volume of 312,529. Credicorp has a 52-week low of $165.51 and a 52-week high of $280.88. The firm has a 50-day simple moving average of $259.92 and a 200-day simple moving average of $239.56. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $19.69 billion, a P/E ratio of 11.74, a PEG ratio of 0.71 and a beta of 1.09.

Credicorp (NYSE:BAP) last issued its quarterly earnings results on Thursday, November 13th. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.71 billion. As a group, equities analysts forecast that Credicorp will post 21.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Capital World Investors acquired a new position in shares of Credicorp during the 3rd quarter valued at $434,014,000. Norges Bank acquired a new stake in shares of Credicorp in the second quarter valued at about $110,945,000. Nuveen LLC purchased a new stake in shares of Credicorp during the 1st quarter valued at about $77,577,000. William Blair Investment Management LLC lifted its position in Credicorp by 71.6% during the 3rd quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank’s stock worth $218,369,000 after acquiring an additional 342,308 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new stake in Credicorp in the third quarter valued at approximately $78,211,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

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.