Credicorp (NYSE:BAP) Price Target Raised to $415.00 at JPMorgan Chase & Co.

Credicorp (NYSE:BAP) had its target price hoisted by analysts at JPMorgan Chase & Co. from $412.00 to $415.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 20.99% from the company’s current price.

A number of other analysts also recently weighed in on BAP. HSBC raised shares of Credicorp from a “hold” rating to a “buy” rating and increased their target price for the company from $320.00 to $350.00 in a research report on Tuesday, May 19th. The Goldman Sachs Group increased their target price on shares of Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. UBS Group increased their target price on shares of Credicorp from $408.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Research downgraded shares of Credicorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $356.40.

Credicorp Trading Down 1.5%

Shares of NYSE BAP traded down $5.25 during trading on Thursday, reaching $343.00. The company had a trading volume of 456,056 shares, compared to its average volume of 459,400. The company’s fifty day moving average price is $331.67 and its 200-day moving average price is $315.88. Credicorp has a 12 month low of $206.60 and a 12 month high of $380.20. The stock has a market cap of $32.37 billion, a P/E ratio of 13.22, a PEG ratio of 0.78 and a beta of 0.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last released its quarterly 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, research analysts expect that Credicorp will post 29.38 earnings per share for the current year.

Insider Activity at Credicorp

In related news, CFO Alejandro Perez-Reyes sold 1,073 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $337.50, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Credicorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. TD Asset Management Inc boosted its position in shares of Credicorp by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,853 shares of the bank’s stock valued at $532,000 after purchasing an additional 29 shares in the last quarter. Cigna Investments Inc. New raised its stake in Credicorp by 2.8% during the 4th quarter. Cigna Investments Inc. New now owns 1,172 shares of the bank’s stock worth $336,000 after buying an additional 32 shares during the period. CIBC Private Wealth Group LLC raised its stake in Credicorp by 21.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock worth $52,000 after buying an additional 32 shares during the period. Perpetual Ltd raised its stake in Credicorp by 0.5% during the 4th quarter. Perpetual Ltd now owns 6,418 shares of the bank’s stock worth $1,842,000 after buying an additional 34 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Credicorp by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,162 shares of the bank’s stock worth $2,916,000 after buying an additional 42 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.