Credicorp (NYSE:BAP) Hits New 52-Week High – Still a Buy?

Shares of Credicorp Ltd. (NYSE:BAP) reached a new 52-week high on Friday . The company traded as high as $413.25 and last traded at $402.2710, with a volume of 10923 shares. The stock had previously closed at $402.27.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Morgan Stanley upgraded Credicorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $375.00 to $480.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lowered Credicorp from an “overweight” rating to a “neutral” rating and set a $415.00 price objective on the stock. in a report on Monday, June 15th. The Goldman Sachs Group boosted their price objective on Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, HSBC upgraded Credicorp from a “hold” rating to a “buy” rating and upped their target price for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $384.33.

Credicorp Trading Up 0.1%

The company’s fifty day moving average price is $372.37 and its two-hundred day moving average price is $348.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market cap of $38.01 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.83 and a beta of 0.88.

Insider Buying and Selling

In related news, CEO Diego Antonio Cavero sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total transaction of $1,116,500.00. Following the completion of the sale, the chief executive officer directly owned 7,307 shares of the company’s stock, valued at $2,330,933. This trade represents a 32.39% decrease in their position. 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 the firm’s stock in a transaction 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 of the company’s stock, valued at $588,937.50. This represents a 38.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Credicorp

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Credicorp during the 1st quarter worth about $78,000. Cetera Investment Advisers increased its position in Credicorp by 36.3% in the 2nd quarter. Cetera Investment Advisers now owns 1,786 shares of the bank’s stock valued at $399,000 after acquiring an additional 476 shares in the last quarter. State Street Corp increased its position in Credicorp by 1.6% in the 2nd quarter. State Street Corp now owns 1,197,536 shares of the bank’s stock valued at $267,673,000 after acquiring an additional 19,361 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Credicorp in the second quarter worth about $355,000. Finally, Quantinno Capital Management LP raised its stake in shares of Credicorp by 24.7% in the second quarter. Quantinno Capital Management LP now owns 5,468 shares of the bank’s stock worth $1,222,000 after acquiring an additional 1,083 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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.